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*CBZ, ZB Banks Hint On Potential Merger*

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CBZ Holdings and ZB Financial Holdings Limited have notified their shareholders of separate potential acquisitions that could have an impact on securities prices.

In a cautionary statement dated 20 June 2022, the financial institution, said negotiations that could have a material impact on its securities prices are ongoing. Part of the statement read:

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> ZB Holdings Limited advises its shareholders that one of its company’s shareholders is engaged in negotiations for a potential acquisition of a control block of securities, which if concluded successfully, may have a material effect on the companies’ securities price.

ZB Financial Holdings Limited Group Company Secretary Tinashe Masiiwa advised shareholders to exercise caution when dealing with the company’s securities until a further announcement is made.

On its part, CBZ said negotiations for a potential acquisition were also ongoing.

In a statement dated 17 June 2022, CBZ Holdings Group Legal Corporate Secretary, Rumbidzai Angeline Jakanani said:

> Shareholders are advised that CBZ Holdings Limited, “the Company”) in negotiations for a potential acquisition which if successfully concluded may have a material effect on the price of the Company’s securities, the full impact of which is currently being determined.

> Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s securities until a full announcement is made.

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