On the 30th of April 2023, the Board of Directors of the Company advised shareholders that the company was engaged in discussions that involved a potential transaction that could have a material impact on the company's shares. The transaction involved raising capital for the company's major capital expenditure programme through the issuance of shares by way of a rights oer.

The cautionary was subsequently withdrawn in order to allow engagements to take place between company stakeholders regarding the funding of the capital expenditure programme. The company is now well placed to move forward with the rights oer.

Full details of the transaction will be availed in due course.

By Order of the Board

L. Samunda (Ms.)

Company Secretary

24 May 2023

Directors: G.H. Hampshire (Chairman), J.P. Mkushi (Managing Director)*, C Mahari (Mrs)(Finance Director)*, B.P. Nyajeka, Z.B Bikwa, B Ngara. * Executive

5 Glasgow Road, P.O Box 3985, Harare, Zimbabwe, Website: www.turnall.co.zw

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Turnall Holdings Ltd. published this content on 29 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 May 2023 06:54:07 UTC.