NOTICE IN TERMS OF SECTION 33 OF THE INSURANCE ACT (CHAPTER 24:07) – PROPOSED ACQUISITION OF THI INSURANCE (PRIVATE) LIMITED BY ZIMNAT LION INSURANCE COMPANY LIMITED
NOTICE is hereby given in terms of Section 33 of the Insurance Act [Chapter 24:07] that:
- Application for Approval of Amalgamation
The respective directors of THI Insurance (Private) Limited (“THI”) and Zimnat Lion Insurance Company Limited (“Zimnat Lion”) intend to make an application to the Minister of Finance for the approval of the following transaction:
The proposed acquisition of the whole of the business of THI by Zimnat Lion and the subsequent amalgamation of the business of THI under Zimnat Lion.
- Salient Features of the Transaction
Subject to all Conditions Precedent being fulfilled, Zimnat Lion shall acquire the entire issued share capital of THI. Upon consummation of the transaction, THI shall become a wholly owned subsidiary of Zimnat Lion.
- Representations and Inspection of Documents
Any person who wishes to make representations relating to the application must lodge them, in writing, with the Commissioner of the Insurance and Pensions Commission, 160 Rhodesville Avenue, Greendale, Harare and may copy the representations to the undersigned within 21 days of the date of publication of this notice.
The relevant Share Purchase Agreement shall lie open for inspection during the notice period at the offices of the undersigned parties.
Legal Advisors to Zimnat Lion
15th Floor, Joina City
Corner Jason Moyo Avenue/Julius Nyerere Way
THI Insurance (Private) Limited
Mount Pleasant Office Park
Zimnat Lion Insurance Company Limited
Corner 3rd Street & Nelson Mandela Avenue Harare