NMB Nmbz Holdings Ld

RNS Number:7194K
NMBZ Holdings Ld
27 September 2001

                            NMBZ HOLDINGS LIMITED
     Holding company of NMB Bank Limited (registered Commercial Bank) and
               Continental Securities Trading (Private) Limited


                               NOTICE TO MEMBERS

Notice is hereby given that an Extraordinary General Meeting of Members of
NMBZ Holdings Limited ("the Company") will be held at the Registered Office of
the Company at Fourth Floor, Unity Court, Corner First Street/Union Avenue,
Harare, Zimbabwe on Friday 19 October 2001 at 15:00 for the following
purposes:


Special Resolutions

To consider, and if deemed fit, to resolve with or without amendment:

1      Share Split

1.1    Authorised share capital

       that each of the 40 million ordinary shares of Z$3.50 in the authorised 
share capital of the Company be and is hereby subdivided into 14 (fourteen) 
shares of Z$0.25 each.


1.2    Issued share capital

       that the issued share capital of the Company be and is hereby amended 
from 29,713,650 ordinary shares with a nominal value of Z$3.50 each, to 
415,991,100 ordinary shares with a nominal value of Z$0.25 each.


2      Share Buy-back


2.1    that in the event that the foregoing share split proposal
is approved, the existing shareholder approval granted to the Company on
Tuesday 29 May 2001 with respect to the buy-back of its shares be cancelled
and replaced as follows:


2.1.1  that the Company be authorised to purchase up to 56,000,000
(fifty-six million) of its own shares, at a price not less than the share's
post-split nominal value, and not more than the product of the Company's
annual or twice the half-yearly earnings per share after the share split, and
twice the weighted average historical price/earnings ratio of financial
institutions quoted on the Zimbabwe Stock Exchange, as at purchase date for
the purposes of cancelling the shares;



2.2    that a capital redemption reserve fund appropriated out of
revenue reserves standing from time to time in the books of the Company be
created;



2.3    that this share buy-back authority shall become effective
as at Friday 19 October 2001 and shall expire at the next Annual General
Meeting of the Company;



Your Board supports both proposals, and encourages shareholders to do
likewise.



Note: A member of the Company entitled to attend and vote at this meeting is
entitled to appoint a proxy to attend, speak and on a poll, vote in his stead.
A proxy need not be a member of the Company.  Proxy forms should be
forwarded to reach the Company at least 48 hours before commencement of the
meeting.



By Order of the Board



O O Chekecke                                               27 September 2001
Company Secretary

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