Food and dairy products processor, Dairibord Zimbabwe Holdings Limited (DZL) shareholders are expected to consider approving employees' stake to 5 % at the forthcoming annual general meeting.
"To consider, and if deemed fit, pass with or without modification, the following ordinary resolution: That the directors of the Company be and are hereby authorised to approve the reservation of 7,900,043 ordinary shares out of the authorised unissued share capital of the company," DZL said.
The DZL Holdings Employee Share Trust was formed in 2005 through a loan extended by the company which saw employees acquiring ten million shares equivalent to around 3.15% of the total issued share capital at the time.
The increase will result in the Trust holding seventeen million nine hundred thousand and forty-three shares constituting 5% of the total issued share capital of the company.
The meeting is also expected to shelve any pre-emptive rights of the shareholders in respect of shares to be issued and allotted pursuant to the 2005 DZL Holdings Employee Share Trust.
