FML seeks 100% of NicozDiamond

FML seeks 100% of NicozDiamond
Published: 07 June 2018
First Mutual Holdings Limited (FMHL) will increase its stake in NicozDimond Insurance Limited (NDIL) to 100 percent if shareholders approve the proposal at a meeting to be held at the end of this month.

This comes as FMHL had acquired 80,92 percent shareholding in NDHL late last year, a move that should see the short term insurer de-list from the Zimbabwe Stock Exchange (ZSE).

Once Zimbabwe's biggest and only listed short-term insurer becomes 100 percent owned by FMHL, it would be merged with Tristar Insurance, already a unit of FML.

FMHL has therefore proposed to acquire the remaining stake in NicozDiamond through an offer to buy out minorities through a Scheme of Arrangement, to be put to the vote of members.
- The Herald
Tags: FML,


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