BUSINESS REPORTER
GetBucks MicroFinance Bank Limited shareholders have approved a share purchase scheme as the Fintech firm moves to reward its employees.
Under the plan approved at the company’s 4th annual general meeting in Harare Tuesday, board chairman Rungano Mbire said the scheme results in an earned benefit arising out of a bonus as qualifying employees may purchase shares up to a value of 50% of their bonus.
“The subscription price for share purchases shall be calculated as the volume-weighted average traded share price less than 10% margin. The bonus is restricted to 10% of profit after tax and the maximum number of shares that can be procured under this scheme is 100 million,” Mbire said.
He said the purpose of the scheme is to “reward employees” who have contributed to the company and to encourage employees to work towards enhancing the value of the company and its shares for the benefit of the company and its shareholders.
Tuesday’s AGM also approved the change of the company’s financial year-end to December from June necessitated by changes in the group’s year-end and the need to align with the group. This would result in a 6-month financial year ended 31 December 2019 and annually thereafter.
Mbire and Walter Kambwanji were re-elected as directors. Shareholders also approved the declaration of dividends of ZWL$0.00096 per share for the financial year ended June 30, 2019, approved director and audit fees. They also approved the remuneration of the auditor for the financial year ended June 30 and reappointed PriceWaterhouseCoopers Chartered Accountants as auditor of the Company until the conclusion of the next AGM.
