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28-Sep-2018
(C)
Revenue for the interim period soared to USD30.6 million (2017: USD18.8 million), gross loss for the period narrowed to USD143 919 (2017: loss of USD2.1 million), loss for the period lowered to USD23 million (2017: loss of USD24.6 million), while headline loss per share remained stable at USD13 cents per share (2017: headline loss of USD13 cents per share).



Dividend

In view of the loss position, this Board has not proposed an interim dividend for the period under review.



Company outlook

The Operating plan for the second half of the year (H2, 2018) will continue to focus on increased production and improved efficiencies. However, increased production requires that the company allocates more funding to its operations focusing on its core business of mining and reducing non-mining costs in line with industry best practices.



Innovative ways to deal with the scheme obligations will be explored while production of high margin and value coking coal will be increased.
04-Jul-2018
(Official Notice)
At the ninety fifth (95th) Annual General Meeting (AGM) of shareholders of Hwange held on Friday 29th of June 2018, all the resolutions, as they fully appear in the published notice dated 1 June 2018, were passed.
18-May-2018
(Official Notice)
Hwange (?the company?) advised all its stakeholders and members of the public that the company has suspended the Managing Director, Engineer Stenjwa Thomas Makore effective Monday 14th of May 2018. The suspension is pending a disciplinary hearing whose outcome shall be communicated to stakeholders in due course.



All stakeholders are further advised that during his suspension, Engineer Makore is not authorised to transact or conducted or conduct any business on behalf of the company.



In the interim, the company has appointed Engineer, Shepard Manamike to be Acting Managing Director effective the 15th of May 2018 until further notice.



To this effect, the company advises shareholders that the cautionary statement published on 15 May 2018 is hereby withdrawn.
15-May-2018
(Official Notice)
Hwange Colliery Company Ltd. advises shareholders and members of the public that it has become aware of allegations of impropriety that have emerged following a dispute between two senior Company officials.



As such, the Company advises that it has instituted formal investigations into those allegations and shareholders and members of the public shall be advised of the outcome in due course.



Accordingly, shareholders and members of the public are advised to exercise caution and consult their professional advisers when dealing in the Company?s sharers, until the outcome of formal investigations is announced.
16-Apr-2018
(Official Notice)
The shareholders of Hwange Colliery Company Ltd. (?the company?) and members of the public are advised that the company has suspended negotiations concerning a material transaction with an undisclosed party.



To this effect, the company advises shareholders that the cautionary statements published on 24 January, 19 February and 19 March 2018 are hereby withdrawn.
29-Mar-2018
(C)
19-Feb-2018
(Official Notice)
The shareholders of Hwange (?the company?) and members of the public are advised that the company is still engaged in negotiations concerning a material transaction which, if concluded, may have an effect on the price of the company?s shares.



Accordingly, shareholders and members of the public are advised to exercise caution and consult their professional advisors when dealing in the company?s shares, until a full announcement is made or this cautionary is withdrawn.
24-Jan-2018
(Official Notice)
The shareholders of Hwange and members of the public are advised that the Company is engaged in negotiations concerning a material transaction which, if concluded, may have an effect on the price of the Company?s shares.



Accordingly, shareholders and members of the public are advised to exercise caution and consult their professional advisors when dealing in the Company?s shares, until a full announcement is made or this cautionary is withdrawn.
29-Sep-2017
(C)
02-Aug-2017
(Official Notice)
Pursuant to the previous cautionary statements published by the Company in connection with its proposed Creditors? Scheme of Arrangement (?the transaction?), Hwange advised that the transaction has been concluded and the cautionary is withdrawn.



The Company notified all its stakeholders that the Creditors? Scheme of Arrangement meeting was held at Chapman Golf Club, Harare on Wednesday 26th April 2017. The outcome of the meeting shall be published in due course by the Chairman of the Scheme, Mr A. Lawson.
04-May-2017
(Official Notice)
Pursuant to the previous cautionary statements published by the Company in connection with its proposed Creditors? Scheme of Arrangement (?the transaction?), Hwange Colliery Company Ltd. (?the Company?) advises that the transaction has been concluded.



The Company notifies all its stakeholders that the Creditors? Scheme of Arrangement meeting was held at Chapman Golf Club, Harare on Wednesday 26th April 2017. The outcome of the meeting shall be published in due course by the Chairman of the Scheme, Mr A. Lawson. The Company shall also publish a press statement related to the transaction now closed.
31-Mar-2017
(Official Notice)
02-Mar-2017
(Official Notice)
The company?s is still engaged in discussions connected to a debt management plan with its Creditors. The said the debt management plan is being finalised. The Creditors shall be advised of the scheme meeting date, time and venue of the Scheme Meeting.



Pending finalization of the foregoing discussions, the Shareholders and members of the public are advised to exercise caution when dealing in the company?s shares and to consult their professional advisers before dealing in the company?s shares.
31-Mar-2017
(C)
13-Jan-2017
(Official Notice)
The Company?s is still engaged in discussions connected to a debt management plan with its creditors. The said the debt management plan is being finalised. The creditors shall be advised of the scheme meeting date, time and venue of the scheme meeting.



Pending finalization of the foregoing discussions, the shareholders and members of the public are advised to exercise caution when dealing in the Company?s shares and to consult their professional advisers before dealing in the Company?s shares.

24-Nov-2016
(Official Notice)
Rights Issue

Further to the cautionary statement published on 7 October 2016, Hwange Colliery Company Ltd. wishes to advise its Shareholders and the public that after consultations with major Stakeholders and professional advisors the Company has found it prudent to pursue a debt management plan ahead of any capital raising initiatives. As such the Company has suspended discussions involving the rights issue and private placement and is at advanced stages of a Scheme of Arrangement with creditors.



Scheme Meeting

Pursuant to the granting of the High Court Order authorizing the Company to convene scheme meetings, the Company is finalizing engagements with its creditors for a mutually acceptable debt management plan. The Creditors and Shareholders of Hwange Colliery Company Ltd. shall be notified of the Scheme Meeting date, time and venue.



Further Cautionary

Pending finalization of the foregoing discussions, Shareholders and members of the Public are advised to exercise caution when dealing in the Company?s shares and to consult their professional advisers before dealing in the Company?s shares.
07-Oct-2016
(Official Notice)
Pursuant to the granting of the High Court Order authorizing the Company to convene scheme meetings, the Creditors and Shareholders of Hwange shall be notified of the Scheme Meeting date, time and venue. The Company is finalizing engagements with its creditors for a mutually acceptable debt management plan.



Further Cautionary

Further to the previous cautionary announcements relating to the Company being engaged in discussions that may lead to transactions which may have an impact on the share price, Shareholders are advised that discussions referred therein are still in progress. Pending finalization of the foregoing discussions, Shareholders and members of the Public are advised to exercise caution when dealing in the Company?s shares and to consult their professional advisers before dealing in the Company?s shares.
03-Oct-2016
(C)
18-Aug-2016
(Official Notice)
Pursuant to the granting of the High Court Order authorising the Company to convene meetings for secured and concurrent creditors, the Chairman of the Scheme, Mr Andrew Lawson postponed the Scheme Meetings. The Creditors and Shareholders of Hwange Colliery Company Ltd. are hereby advised that the scheme meeting will be held at a later date, time and venue as the Scheme Chairperson shall notify the Creditors.



Further Cautionary

Further to the previous cautionary announcements relating to the Company being engaged in discussions that may lead to transactions which may have an impact on the share price, Shareholders are advised that discussions referred therein are still in progress. In the interim, the Company is engaging its creditors for a mutually acceptable debt management plan. Pending finalisation of these discussions, Shareholders and members of the Public are advised to exercise caution when dealing in the Company?s shares and to consult their professional advisers before dealing in the Company?s shares.
28-Jun-2016
(Official Notice)
The Directors of Hwange advised all shareholders that in an Order dated the 1st of June 2016, the High Court under case number HC5016/16 granted the Company leave to convene meetings for secured and concurrent creditors under the Chairmanship of Mr Andrew Lawson to consider, and if deemed fit, agree to, with or without modification, a Scheme of Arrangement proposed by the Company.



It is envisaged that the meetings will be held on 14 July 2016 at Chapman Golf Club, 1 Henry Chapman Road, Eastlea, Harare, Zimbabwe, at 1000hrs. The date is dependent on all the necessary requirements having been put in place, failing which, authority for variation of the dates shall be sought from the High Court.



Further Cautionary

Further to the previous cautionary announcements relating to the Company being engaged in discussions that may lead to transactions which may have an impact on the share price, Shareholders are advised that discussions referred therein are still in progress. In the interim, the Company is engaging its creditors in order to come up with a mutually acceptable debt management plan. Pending finalisation of these discussions, Shareholders and members of the Public are advised to exercise caution when dealing in the Company?s shares and to consult their professional advisers before dealing in the Company?s shares.
01-Jun-2016
(Official Notice)
The Board of Hwange informed stakeholders of the Company of the following changes to the Board of Hwange: Stepping down of acting board chairman and non-executive directors Hwange would like to announce the stepping down of Mr Jemister Chininga as acting Board Chairman on 13 May 2016 and the stepping down of Messrs Shingirayi Norman Chibanguza and Ian Chamunorwa Haruperi as Non-Executive Directors effective 29 February 2016.



Appointment of non-executive directors

* Following the stepping down of Mr Jemister Chininga as acting Board Chairman on 13 May 2016, Hwange announced the appointment of Mr Winston Chitando as the new Board Chairman effective 19 May 2016.

* Hwange announced the appointment of Mr Wenceslaus Tarugarira Kutekwatekwa as a Non-Executive Director of the Company effective 19 May 2016.

* Hwange announced the appointment of Mrs Ntombizodwa Masuku as a Non-Executive Director of the Company effective 19 May 2016.
30-May-2016
(Official Notice)
30-May-2016
(Official Notice)
Further to the previous cautionary announcements relating to the company being engaged in discussions that may lead to transactions which may have an impact on the share price, Shareholders are advised that discussions referred therein are still in progress. In the interim, the company is engaging its creditors in order to come up with a mutually acceptable debt management plan. Pending finalisation of these discussions, Shareholders and members of the Public are advised to exercise caution when dealing in the company?s shares and to consult their professional advises before dealing in the company?s shares.
12-May-2016
(Official Notice)
Hwange Shareholders (?Shareholders?) are advised that the company has filed an announcement with the Zimbabwe Stock Exchange (?ZSE?) corporate announcements portal which is awaiting ZSE approval for release.



The company has no control of when this announcement will be approved and released by the ZSE and advises Shareholders that will they will be able to find the announcement on the following website: http://www.zimbabwe-stock-exchange.com/tag/corporate-announcements/ and that the same announcement will be published on SENS as soon as possible after the announcement is published on the ZSE.







04-May-2016
(Official Notice)
Further to the Cautionary statement published on 7 March 2016, Hwange updated its valued shareholders and members of the public that the Company is still engaged in discussions that may lead to transactions which may have an impact on the share price. The contemplated transaction is a Rights Offer. The Company is at an advanced stage of converting government debt to equity and at the same time raising working capital for the Company through a private placement. The Directors therefore advise the Shareholders of Hwange and the public, to continue exercising caution and to consult their professional advisers when dealing in the Company?s shares.
01-Apr-2016
(C)
07-Mar-2016
(Official Notice)
The Directors of Hwange Colliery Company Ltd wish to advise all Shareholders that the Company is still engaged in discussions that may lead to transactions which may have an impact on the share price. The Company will be advising Shareholders on the details of the proposed transactions in due course.



The Shareholders and the public are therefore advised to exercise caution when dealing in the shares of Hwange Colliery Company Ltd and to consult their professional advisers before dealing in the Company?s shares.

29-Feb-2016
(Official Notice)
The re-publication of the interim financial results for the half year ended 30 June 2015 has been necessitated by materiality of the final Zimbabwe Revenue Authority (ZIMRA) liability concluded on 27 November 2015. There was a recognition of an additional tax liability of USD28.5 million resulting in a ZIMRA liability of USD69.1 million following finalisation of a special exercise covering the period 2009 to 2015. The amount had previously been reported as a contigent liability. The re-publication has been done after engagements and in compliance with the Zimbabwe Stock Exchange listing regulations.



Financial results

The sales revenue for the six (6) months under review was USD35.4 million compared to the USD39.9 million revenue recorded during the same period last year. The operating loss was USD48 million compared to an operating loss of USD7.6 million for the comparative period last year. The Company incurred a loss after taxation of USD44.1 million compared to the USD7.9 million loss recorded for the same period in 2014.



There was a notable decrease in administrative costs because of the cost containment measures adopted by the Company. Finance costs for the period amounted to USD1.1 million compared to USD1.0 million for the same period last year. The burden of servicing the legacy debts continued to strain the Company`s cash flows and this presented working capital challenges. Total non-current assets increased by 18% from USD161.8 million to USD191.2 million.



Performance

For the six (6) month period under review, the Company sold a total of 685 759 tonnes of coal and coke products compared to 764 813 tonnes sold during the same period last year representing a decline of 10%. HPS coal deliveries to Hwange Power Station for the period under review were 409 843 tonnes compared to 394 451 tonnes for the same period last year representing an increase of 4%.



HCC/HIC coal sales increased by 14% from 197 342 tonnes to 225 396 tonnes. There was a decrease in the sales of coal fines and breeze from 154 657 tonnes to 45 045 tonnes for the comparative periods. Coke sales volume decreased from 18 363 tonnes achieved in the first half of 2014 to 5 475 tonnes for the period under review. This was attributed to the low production performance of the toll coking arrangements.
16-Oct-2015
(Official Notice)
Mr Farai Mutamangira resigned as Chairman and Director of the Company with effect from Friday 09 October 2015. Following the stepping down of Mr Mutamangira, the Board of Directors of Hwange announced the appointment of Mr Jemister Chininga as the new Board Chairman effective 15 October 2015.
07-Oct-2015
(C)
21-Aug-2015
(Official Notice)
Further to the cautionary statement published on the 23rd of July 2015, the Directors of Hwange advised all Shareholders that the Company is still engaged in discussions that may lead to transactions which may have an impact on the share price. The Company will be advising Shareholders on the details of the proposed transactions in due course.



The Shareholders and the public are therefore advised to exercise caution when dealing in the shares of Hwange and to consult their professional advisers before dealing in the Company?s shares.
22-Jul-2015
(Official Notice)
Further to the cautionary statement published on the 1st of July 2015, the directors of Hwange advised all shareholders that the company is still engaged in discussions that may lead to transactions which may have an impact on the share price. The company will be advising shareholders on the details of the proposed transactions in due course.



The shareholders and the public are therefore advised to exercise caution when dealing in the shares of Hwange and to consult their professional advisers before dealing in the company?s shares.

30-Jun-2015
(Official Notice)
Further to the cautionary statement published on the 3rd of June 2015, the Directors of Hwange wish to advise all Shareholders that the Company is still engaged in discussions that may lead to transactions which may have an impact on the share price. The Company will be advising Shareholders on the details of the proposed transactions in due course.



The Shareholders and the public are therefore advised to exercise caution when dealing in the shares of Hwange and to consult their professional advisers before dealing in the Company?s shares.
03-Jun-2015
(Official Notice)
Notice is hereby given that the ninety second (92nd) Annual General Meeting (AGM) of Shareholders of Hwange Colliery Company Ltd will be held in the Board room, 7th Floor Coal House, 17 Nelson Mandela Avenue, Harare, at 10:30am on Tuesday 30 June 2015 for the following business:



1. Ordinary business

1.1. To recieve and consider the audited accounts and the reports of the Directors and of the auditors for the year ended 31 December 2014.

1.2. To re-elect Directors who are retiring in terms of the Articles of Association. Mr J. Chininga, Mr I. C. Haruperi, Mr S. T. Makore retire by rotation. The retiring Directors being eligible offer themselves for re-election.

1.3. To approve the Directors fees for the year ended 31 December 2014.

1.4. To approve the renumeration of the auditors for the year ended 31 December 2014.

1.5. To elect auditors of the Company, Grant Thornton Chartered Accountants (Zimbabwe) for the ensuing year.



2. Other business

To transact such other business as may be transacted at an Annual General Meeting.



3. Proxies

3.1. A member entitled to attend and and vote at the meeting may appoint any person or persons to speak and vote in his/her place. A proxy need not be a member of the Company. Proxy forms are attached to this Annual Report and must be lodged with the Secretary at the registered office in Harare not less than 48 hours before the meeting.

3.2. Members may wish to raise any questions regarding the financial affairs of the Company at the forthcoming Annual General Meeting. The Board of Directors will endeavour to provide meaningful and considered responses to such questions. In order to facilitate this, members are requested to lodge any questions in writing at the registered office of the Company, not less than forty eight (48) hours before the time scheduled for the holding of the Annual General Meeting. However, members will still have the right to ask verbal questions during the meeting, at the appropriate time.

02-Jun-2015
(Official Notice)
The directors of Hwange Colliery Company Ltd wish to advise all Shareholders that the company is engaged in a transaction which if successful, may have an impact on the share price. The company will be advising shareholders on the details of the proposed transactions in due course. The shareholders and the public are therefore advised to exercise caution when dealing in the shares of Hwange Colliery Company Ltd and to consult their professional advisers before dealing in the company's shares.

22-Apr-2015
(C)
07-Oct-2013
(C)
Revenue declined to USD40.4 million (USD51.8 million). A loss from operations of USD4.5 million (profit of USD1.6 million) was made. A net attributable loss of USD3.1 million (profit of USD0.5 million) was recorded. In addition, a headline loss per share of USD2cps (earnings of USD0.3cps) was registered.



Outlook

The company has taken delivery of the mining equipment worth USD11 million from Sany Heavy Equipment Company Ltd. of China and the commissioning was expected to be completed by 30 September 2013. This equipment will augment the mining machinery worth



USD7 million procured in October 2012. Another initiative to procure drilling equipment from South Africa is at an advanced stage and should be concluded in time for delivery of the drills in the fourth quarter of 2013. There is no doubt that these recapitalisation initiatives currently being implemented organically will result in improved production performance.



The company's coal and coke products will remain targeted at the local and regional markets. The commodity prices are forecast to stabilise before end of the third quarter and start to increase in the fourth quarter.



The company will intensify its cost containment thrust through rationalisation of its operations and aligning the business model to international benchmarks.



The board and management has confidence in the current recapitalisation initiatives being implemented that will result in immediate increase in coal and coke production. Positive financial performance is projected for the year end.
21-Sep-2012
(C)
Sales revenue for the interim period ended 30 June 2012 increased to USD51.8 million (2011: USD48.6 million). A profit from operations of USD1.6 million was recorded (2011: loss of USD3.1 million), but total comprehensive income for the period decreased to USD512 006 (2011: USD38.4 million). Furthermore, headline earnings per share increased to USD0.3cps (2010: loss of USD0.8cps).



Dividend

The board of directors has resolved not to declare any interim dividend given the company's financial performance for the first six months of the year and the need to recapitalise the business.



Outlook

The company's recapitalisation programme currently being pursued will result in improved production performance. Commissioning of equipment worth USD6.35 million procured under a pre purchase financing structure with a major customer is underway. The awarding of tenders for the supply of mining equipment worth USD40 million is also currently in progress and is expected to be concluded in the fourth (4th) quarter of 2012. The company will continue to meet some of its recapitalisation requirements organically, while actively pursuing negotiations for working capital facilities with financial institutions.



The company's products will continue to be marketed into the regional markets offering high returns. An international marketing strategy to penetrate new continental and overseas markets for coal and coke is currently being pursued. On the domestic market, the thrust will be to intensify customer service and consolidate market leadership focussing on power generation, the tobacco industry and the manufacturing industry. The Enterprise Resource Planning system implemented by the company as from May 2012 resulted in redundancy of over two hundred (200) jobs. A retrenchment exercise is currently underway and this is expected to result in the reduction of overheads. The board and management are confident that the current initiatives being pursued by the Company will turn around the fortunes of the company and should see an improved financial performance in the second half of the year.
31-May-2012
(Official Notice)
Notice was given that the eighty-ninth annual general meeting of shareholders of Hwange will be held in the board room, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare, at 10.30 a.m. on Friday 29 June 2012 for the following business:
29-Mar-2012
(C)
Revenue for the year ended 31 December 2011 increased to USD108 million (2010: USD98.9 million). Gross profit improved to USD35.5 million (2010: USD33.4 million), and operating profit fell to USD4.1 million (2010: USD9.4 million), while total comprehensive income for the year rose to USD43.8 million (2010: USD6.3 million). Furthermore, earnings per share decreased to USD0.02cps (2010: USD0.03cps).



Dividend

The board has resolved not to consider payment of a dividend in view of the current recapitalization initiatives and the need to turnaround the business.



Outlook

The Zimbabwean economy grew by 8.4% in 2010 and by 9.3% in 2011. Economic activity is projected to further grow by 9.4% in 2012, underpinned by strong performance in the finance, mining, manufacturing, tourism, and agriculture sectors. The recovery in the manufacturing sector is slow because of lack of long term finance to recapitalize operations. The expected interventions to boost capacity utilisation in industry and strong performance by the agricultural sector would stimulate the rather subdued domestic demand. The envisaged favourable international commodity prices are likely to result in increased demand in 2012. The company?s aggressive export marketing strategy opened prospective markets in the Asian market. The export drive is anchored on access to port space in Maputo, Mozambique. The company is working on securing additional coal concessions in order to boost its resource and reserves base. The funding initiatives with a regional developmental financial institution did not materialize during the year. Efforts in this regard continue.
30-Nov-2011
(Media Comment)
Business Report noted that Hwange is in talks with the Development Bank of Southern Africa ("DBSA") about a USD150 million loan. CE Fred Moyo commented that Hwange was "close to concluding the USD150 million recapitalisation deal with DBSA and by the end of the year we should have finalised everything."
28-Sep-2011
(C)
Sales revenue for the interim period ended 30 June 2011 Increased to USD48.8 million (2010: USD45.2 million). A loss from operations of USD3.1 million was recorded (2010: profit of USD4 million), but total comprehensive income for the period skyrocketed to USD38.4 million (2010: USD4.5 million). Furthermore, headline loss per share widened to USD1cps (2010: profit of USD2cps).



Dividend

The board of directors has resolved not to consider any interim dividend given the company's financial performance for the first six months of the year.



Outlook

The economy is envisaged to grow by 9.3% by the end of the year. The Medium Term Plan (MTP) presented by the Government of Zimbabwe priorities capacity utilisation in the manufacturing sector. There is expectation for a general increase in lending capacity of local financial institutions with competitive interest rates. These factors present some opportunities for business. The company remains focussed on the long term recapitalisation programme that should permanently address the perennial problems of the aged and obsolete plant and machinery. The prospects of foreign lines of credit from regional financial institutions are being pursued and look positive.



The second half of the year should see the company entering new continental and overseas markets for coal and coke. Emphasis will also be on consolidating the domestic market focussing on power generation, tobacco industry and manufacturing. Focus will also be directed at compliance issues around environmental, empowerment and corporate social responsibility programmes. Acquisition and development of new coal concessions will be a strategic priority. High level strategic dialogue will be enhanced between the company and ZESA Holdings, National Railways of Zimbabwe, and New Zim Steel. Skills and competency training will receive priority in order to support recapitalisation efforts.



The company is currently rationalising its overhead cost burden borne out of its municipality role over Hwange Town. A strategy to rationalise the company's social programmes is also currently underway and is expected to improve efficiencies and profit margins for the company. The company is optimistic that the current initiatives being pursued by the board and management coupled with the conducive economic environment will result in improved financial performance.
11-Aug-2011
(Official Notice)
Hwange announced that following the annual general meeting held on 3 August 2011, the following appointments were made to the board of Hwange from 4 August 2011:

*Chibhanguza Shingirayi; (non-executive director)

*Chininga Jemmister Haruperi; (non-executive director)

*Ian Chamunorwa; (non-executive director)

*Jiyane Nkosilathi; (non-executive director)

*Mapfuwa Siphiwe (Ms); (non-executive director)

*Mawere Johnson R; (non-executive director)

*Mutamangira Farai; (non-executive director)

*Nkomo Lucas; (non-executive director) and

*Vera Valentine( non-executive director)



Shareholders were also advised that the following directors were removed by the shareholders at the AGM with effect from 3 August 2011:

*Fortune Chasi;

*Shingai Israel Mutumbwa;

*Tendai Savanhu;

*Mrs Prisca Mupfumira; and

*Mrs Thandiwe Thando Mlobane



Shareholders are further advised that the following directors retired at the AGM and did not seek re-election:

*Thabani Ndlovu

*James Nqindi

*Alpheus Motampe Ngapo

*Ms Rosemary Sibanda
10-Aug-2011
(Official Notice)
Please be advised that the 88th annual general meeting of shareholders of Hwange was held in the Boardroom, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare, Zimbabwe at 10.30 a.m. on Wednesday 03 August 2011 and that all the resolutions were passed.
13-Jul-2011
(Official Notice)
Notice is hereby given that the eighty-eighth (88th) Annual General Meeting of Members of Hwange Colliery Company Ltd that was adjourned on Thursday 30 June 2011 in terms of Section 130 of the Companies Act Chapter 24:03 will be held in the boardroom, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare, Zimbabwe at 10.30 a.m. on Wednesday 03 August 2011 to transact the business below. The Annual Report 2010 has already been circulated to shareholders.
05-Jul-2011
(Official Notice)
Please be advised that the eighty-eighth Annual General Meeting of Members of Hwange was convened in the boardroom, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare, Zimbabwe at 10.30 a.m. on Thursday 30 June 2011 and was postponed to enable the inclusion on the Agenda of certain matters relating to the restructuring of the board of directors. The annual general meeting remains so adjourned until Wednesday 03 August 2011.

10-Jun-2011
(Official Notice)
31-Mar-2011
(C)
Revenue for the year ended 31 December 2010 increased to USD98.9 million (2009: USD66.4 million). Gross profit improved to USD33.4 million (2009: USD23.3 million), and operating profit rose to USD9.4 million (2009: USD5.8 million), while total comprehensive income more than doubled to USD6.3 million (2009: USD2.6 million). Furthermore, earnings per share strengthened to USD0.03cps (2009: USD0.01cps).



Dividend

The board has resolved not to consider payment of a dividend in view of the need to recapitalize the business.



Outlook

The country's economy is projected to continue to grow in 2011. The envisaged increased capacity utilisation in industry, coupled with the prospect of a good agricultural season would revitalize domestic demand. The growth in exports will hinge on the company focusing on new regional and overseas markets. The company secured a medium term financing facility for the acquisition of additional mining equipment and delivery will be between March and June 2011. This development is expected to further boost productivity. The company is working on securing additional coal concessions in order to boost its resource and reserves base. The company is optimistic that its current funding initiatives will materialize during the year and that product demand will firm in the second half of the year.
06 Dec 2010 14:39:31
(Permanent)
Hwange changed its reporting currency from ZWD to USD in 2009.
17 Sep 2010 11:30:26
(C)
The company's sales revenue for the six month period under review of USD45.2 million (USD23.6 million) was 91% above the revenue recorded during the same period last year. Operating profit more than doubled from USD1.5 million to USD4 million, so too did profit after taxation which soared to USD4.5 million USD1.7 million. Headline earnings per share doubled to USD2 cps (USD1 cps).



Dividend

The board has resolved not to declare any interim dividend given the ongoing recapitalisation programmme.



Outlook

The socio, economic and political stability of Zimbabwe is envisaged to continue into the future. The expected increase in capacity utilisation will present additional opportunities for business growth. The appetite for lending by local institutions, at low interest rates, coupled with prospects of foreign lines of credit will give impetus to the company's recapitalisation programme. The phased recapitalisation of the opencast mine will continue. The long term recapitalisation programme will progress when the company completes the audit of its coal resources and reserves.



The improved global economy implies an increase in demand for coal and coke products. The domestic market sales will target the growing tobacco industry and initiatives for structured coal delivery schemes are being pursued. The company's coke production and sales will commence in the third quarter of 2010 following the refurbishment of the coke oven battery. This will enhance the positive financial performance of the company.



An exercise to rationalise the company's operations currently underway is expected to improve operational efficiencies and increase profitability margins. Diversification into coal bed methane gas exploration and extraction is a priority project that is being vigorously pursued. The board is confident that the current initiatives being pursued by the company, taking cognisance of the economic environment, would enable the company to achieve the set business plan targets for 2010.
02 Jul 2010 10:51:37
(Official Notice)
The board of directors advised that, at the annual general meeting of shareholders held at the registered offices of the company on 30 June 2010, all the ordinary resolutions as set out in the notice of annual general meeting contained in the company's 2009 annual financial statements, were duly passed by the requisite majority of votes.
09 Jun 2010 15:00:40
(Official Notice)
Shareholders are advised that the annual financial statements for the year ended 31 December 2009 have been posted, 4 June 2010 and contain no modifications to the audited financial results which were released on SENS on 31 March 2010.



Notice of the annual general meeting

Notice was also given that the annual general meeting of Hwange will be held in the Boardroom, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare at 10:30 on Wednesday, 30 June 2010. The notice of annual general meeting is issued with the annual report, which contains the annual financial statements of Hwange for the year ended 31 December 2009.
09 Apr 2010 08:31:17
(Official Notice)
The JSE would like to advise that they will be using a Headline Earnings per Share (HEPS) figure of 1.00 US Dollars for HWA Hwange Colliery Ld Ord in our statistical calculations e.g. PE Ratio, Earnings Yield etc. This figure was obtained from the company. The figure represents the 12 months ending 31 December 2009.
31 Mar 2010 16:18:34
(C)
Revenue of USD66.4 million was recorded. Gross profit and operating profit amounted to USD23.3 million and USD5.8 million, respectively. Net attributable profit was USD2.6 million. In addition, earnings per share came in at USD1cps.



Outlook

The country's economy is projected to grow in 2010 and this is expected to translate into increased domestic demand. The demand for both coal and coke is expected to start improving towards midyear. The export market will remain buoyant. The company is currently negotiating recapitalization loans with development financial institutions. This is expected to materialize during the year and this will resolve most production bottlenecks.
12 Mar 2010 09:13:52
(Official Notice)
It was advised that the extra ordinary general meeting held on Monday 8 March 2010 in the boardroom, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare, Zimbabwe at 10.30 hours in terms of the circular to shareholders published on 12 February 2010 for the following business:

* to adopt the new rules of the employee share option scheme

* to approve the 2007, 2008 and 2009 share allotments of the employee share option scheme

* to authorise Hwange to purchase its own shares

was adjourned at the request of shareholders in order to allow further deliberations on the above matters by the board. A revised notice of the extraordinary general meeting will be mailed to shareholders in due course.
04 Mar 2010 09:47:38
(Official Notice)
Hwange has announced details of a revised employee share option scheme in a circular. A general meeting will be held to approve the scheme on Monday, 8 March 2010, at the company's head office 17 Nelson Mandela Avenue, Harare, Zimbabwe.
30 Sep 2009 09:25:06
(C)
This is the first time the company is reporting its results in United States Dollars following the introduction of the multi currency system. Previous results are therefore not comparable.



The company's sales revenue for the six months under review was USD23.6 million. The revenue was negatively affected by the combined effect of the decline in demand for products and the prevailing low prices. The company's cost management programmes resulted in an operating profit of USD1 503 739. The net profit after taxation for the first six months of the year amounted to USD1 658 963. Total fixed assets and investments were revalued to USD77.6 million as at 30 June 2009 from an amount of USD192.6 million as at 31 December 2008.



Dividend

The board has resolved not to consider any interim dividend given the need for the company to recapitalise its operations.



Outlook

The operating environment presents some opportunities for business stability and growth. The local and regional industries, which had been affected by the global economic crisis, are expected to increase capacity utilisation. This implies an increase in demand for coal and coke products. Following the servicing of the dragline and refurbishment of the coke oven battery, the production volumes are expected to increase. Focus would also be on recapitalizing the other key sections of the production process that support this increase in coal and coke volumes. The company's profitability will be driven by competitive cost structures and improved margins through increased productivity. Despite the brain drain that affected all companies in Zimbabwe, Hwange Colliery Company has managed to retain its core skills base that will support the company's initial production ramp up programme.
29 Sep 2009 18:03:11
(Official Notice)
The board of directors of Hwange advises that its headline earnings per share and headline earnings per share for the six month period ended 30 June 2009 are USD0.01 per share. There is no comparative as this is the first time that the company is reporting in United States Dollars following the introduction of the multicurrency system in February 2009. The financial information on which this trading statement is based has not been reviewed or reported on by Hwange's auditors. Hwange's unaudited results for the period ended 30 June 2009 will be released on SENS on 30 September 2009.
17 Jun 2009 09:04:08
(Official Notice)
The JSE Ltd wishes to advise that the audit opinion on the abovementioned company's Annual Financial Statements for the year ended 31 December 2008 contains both an adverse audit opinion and an "emphasis of matter". Shareholders are advised to refer to the financial statements to ascertain the exact nature of the adverse opinion and emphasis of matter. The company's listing on the JSE TRADELECT system will be annotated with both an "A" and an "E" to indicate the adverse opinion and emphasis of matter. The annotations will be removed when the company's auditor's report no longer contains an adverse audit opinion and an emphasis of matter. This announcement has been placed by the JSE in the interest of shareholders.
08 Jun 2009 15:18:51
(Official Notice)
Notice is hereby given that the eighty-sixth annual general meeting of members of Hwange will be held in the Boardroom, 7th Floor, Coal House, 17 Nelson Mandela Avenue, Harare, at 10.30 am on Friday, 26 June 2009.
01 Apr 2009 12:01:56
(C)
Revenue reached ZWD3 296 214 299 trillion in 2008.Gross profit for 2008 was ZWD1 366 538 859 trillion and operating profit reached ZWD176 041 481 357 trillion. Profit attributable to ordinary shareholders was ZWD140 754 057 772 trillion. Headline earnings on a per share basis reached 773cps.



Dividend per share

No final dividend has been declared for the period under review.



Prospects

There is a new economic and operating environment ushered in by the multi currency system. The financial statements for 2009 will be reported in foreign currency. The envisaged improvements in country risk perception due to the advent of the inclusive government would enable the company to access funding for its capital expenditure programme which has been on the cards for the past six years. Procurement of mining equipment and refurbishment of major machinery will be priority during 2009 and this is expected to restore production capacity in the short to medium term. The demand for both coal and coke is expected to start improving towards mid year. Some local mining and ferrochrome companies have presented their plans to restart their operations.
31 Mar 2009 09:27:27
(Official Notice)
The board of directors of Hwange advises that its historical headline earnings per share for the financial year ended 31 December 2008 has increased to 777 trillion Zimbabwean dollars per share. For the financial year ended 31 December 2007, the inflation adjusted earnings per share is zero (0) Zimbabwean cents per share because of the revaluation of the currency during the year. The financial information on which this trading statement is based has not been reviewed by Hwange's auditors. Hwange's audited results for the period ended 31 December 2008 will be released on SENS later today.
26 Jan 2009 10:11:17
(Media Comment)
Mining Weekly reported that Hwange will resume coal deliveries to its customers during January 2009. This follows the completion of repairs to the colliery's thickener, which broke down towards the end of 2008. However spokesperson, Burzil Dube, could not speculate on the volumes to be produced because the main dragline has still not been repaired.
01 Oct 2008 15:02:43
(C)
30 Sep 2008 14:32:24
(Official Notice)
The board of directors of Hwange advises that its inflation adjusted headline earnings per share for the six month period ended 30 June 2008 has decreased by 2 803% on the 17 138 499 220 Zimbabwean cps reported for the six month period ended 30 June 2007 and inflation adjusted earnings per share decreased by 2771% on the 17 142 526 863 Zimbabwean cents per share reported for the same period. The financial information on which this trading statement is based has not been reviewed or reported on by Hwange's auditors. Hwange's unaudited results for the period ended 30 June 2008 will be released on SENS on 30 September 2008.
01 Apr 2008 08:59:22
(C)
The company made a turnover of ZWD1.645 trillion and this was above the previous year?s turnover of ZWD13 billion. The attributable profits were ZWD13.4 trillion, as compared to the previous year?s ZWD10.1 billion. There was a fair value adjustment of ZWD14.3 trillion, arising from the revaluation of investment properties in Harare and Bulawayo. There was another fair value adjustment on the shares held in First Mutual Life, amounting to ZWD3.6 trillion. The property, plant and equipment increased from ZWD2.4 billion in 2006 to ZWD370 trillion, as a result of the revaluation exercise undertaken by CB Richard Ellis Valuers. Receivables and prepayments increased from ZWD5 billion in 2006 to ZWD344.4 billion. The Zimbabwe Iron and Steel Company and Zimbabwe Power Company debts of ZWD175 billion and ZWD148 billion comprised 51% and 43% of receivables, respectively.



Dividends

The board has resolved not to consider payment of a dividend, in view of the challenges in the operating environment and the ongoing recapitalisation programme being pursued by the company.



Prospects

Acquisition of mining equipment and refurbishment of major machinery will be undertaken during 2008 and this will boost production. The company is implementing a new information technology system that will aid management in efficient and effective decision making. The board and management of Hwange is positive that the current recapitalisation initiatives will yield improved and sustainable coal and coke availability to the domestic and international markets. The fundamental guiding principle in all company activities is the optimisation of shareholders` value.
25 Mar 2006 09:56:36
(C)
The year was characterised by a challenging business environment. The year-on-year inflation increased significantly from 132% in January 2005 to close the year at 586%. Foreign currency and fuel availability remained critical. There was also a significant movement in the foreign exchange rate.



Turnover was ZD988.9 billion and was 164% above the previous year's turnover of ZD374.2 billion. This was mainly attributed to the increased coke export volumes and the movement in the exchange rate. The pricing of coal on the domestic market continued under a price monitoring regime. An operating profit of ZD270.9 billion was realised during the year compared with last year's operating profit of ZD79.3 billion. The Company's attributable profits were ZD264.5 billion as compared to the previous year's ZD49.9 billion. Exchange gains were realised on exports following the devaluation of the local currency in the fourth quarter.



Fixed assets increased by 275% to ZD106.8 billion because of the expenditure on the 3-Main Underground Mine which was commissioned during the first half of the year. The Company also invested in a state-of-the-art information and communication technology system, which is still due for completion.



Current Liabilities increased by 565% and this was mainly attributed to the revaluation of the foreign loans from Commonwealth Development Corporation and West LB Bank. Borrowings of ZD114 billion were accessed from the Reserve Bank of Zimbabwe's PLARP facility. The funds were utilised for plant and equipment repairs and construction of coal distribution depots.



Dividend

After taking into account the company's recapitalisation programme currently in progress, the Board resolved not to consider payment of a dividend for the year ended 31 December 2005.



Outlook

The company is in the process of procuring coal haulage equipment, drills and a coal fines recovery plant. The new 3-Main Underground Mine, which was commissioned during the first quarter of 2005, should be boosted by the current initiatives to expand mining operations when a second continuous miner is brought into production. Demand for coal and coke is expected to remain firm in both the domestic and export markets. The company is targeting incremental exports from increased production.
24 Oct 2005 08:34:38
(Permanent)
Changed name from Wankie Colliery Company Ltd on 24 October 2005.
10 Oct 2005 13:09:52
(Official Notice)
Shareholders are referred to the Extraordinary General Meeting ("EGM") of shareholders held on Friday, 10 September 2004 at 17 Nelson Mandela Avenue, Harare, Zimbabwe whereat a resolution was proposed and passed that the name "Wankie Colliery Company Ltd" ("Wankie") be changed to "Hwange Colliery Company Ltd" in terms of Section 25(I) of the Zimbabwe Companies Act and with the written approval of the Registrar of Companies of Zimbabwe, which change of name was effective from 8 November 2004 on the Zimbabwe Stock Exchange.



However, in terms of the JSE's Listings Requirements the notice of the EGM mailed to Wankie shareholders failed to include a form of surrender for those shareholders registered in the Republic of South Africa as well as the procedures to be followed by certificated and dematerialised Wankie shareholders on the South African register. A copy of this notice advising shareholders of the procedure to follow regarding the name change and including a form of surrender for completion by certificated shareholders only was mailed to shareholders on Friday, 7 October 2005.



Jse code, short name and ISIN number

*The new JSE code that Hwange will trade under is "HWA"

*The new short name that Hwange will trade under is "Hwange"

*The new ISIN number is ZW0009011934



Salient dates

*Circular posted to share holders on Friday, 07 October 2005

*Last day to trade in shares under the old name "Wankie Colliery Company Ltd" Friday, 21 October 2005

*Shares trade in the new name "Hwange Colliery Company Ltd".

*JSE lists the consideration shares with the JSE short code "HWA" and new "ISIN ZW0009011934" on Monday, 24 October 2005

*Record date of the name change Friday, 28 October 2005
29 Sep 2005 11:45:06
(C)
03-Aug-2018
(X)
Hwange Colliery Company Ltd.'s principal activities are exploration, mining, processing of coal and the production of coke and related by-products in the north western part of Zimbabwe, Hwange District in the Matabeleland North Province. The Company is ISO 9001:2008 certified by the Standards Association of Zimbabwe (SAZ).



The company has a primary listing on the Zimbabwe Stock Exchange and secondary listings on the Johannesburg and London Stock Exchanges.


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