[2008-08-08]  Econet to hold 9th Annual General Meeting
Econet Wireless is to hold its ninth Annual General Meeting on Friday, August 29.

As ordinary business, shareholders at the AGM will be asked to adopt the Financial Statements for the year ended February 29, 2008, and the reports of Directors and Auditors on the Statements. The total dividend recommendation of $16 361.92 per share will be confirmed, and there will also be the election of directors.

As special business, the Directors will seek authority to purchase the Company's own ordinary shares. The repurchase would be up to a maximum of ten percent of the issued ordinary shares in the Company at the date of the AGM for the purposes of holding these shares as treasury assets.

The shares will be purchased at a price not lower than the nominal value of Z$1.00 per share, and not for more than a price equivalent to 12 times the inflation adjusted net asset value per share. This is provided the repurchases are not made at a price greater than 5% above the weighted average of the market value for the securities for the five business days immediately preceding the date of repurchase.

Approval will be sought for the creation of a capital redemption reserve fund, appropriated put of revenue reserves and standing from time to time in the books of the company.

The AGM is to be held at Econet Park, 2 Old Mutare Road, Msasa in Harare, at 10.00am.

Source: Company's site