TN demerger gets nod

TN Holdings shareholders yesterday approved the demerger of the group’s banking division and its subsequent listing on the Zimbabwe Stock Exchange, as it adopts measures to restructure the group.

All resolutions of the group’s extraordinary general meeting were passed, effectively giving effect to the demerger of TN Bank from TN Holdings pursuant to a restructuring exercise.

The restructuring would be done through the issuance of the bank’s ordinary shares to TN Holdings shareholders.

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