MedTech Holdings warns shareholders ahead of transformation plans

Spread This News

By Alois Vinga

HEALTHCARE products provider, MedTech Holdings has urged shareholders to exercise caution ahead of the company’s plans to transform into an investment holding company.

In an update, MedTech revealed that it was in discussions which involve some transactions that will result in major changes.

“Shareholders are advised that discussions which involve a potential series of transactions at holding company level to transform MedTech into an investment holding company with economic rights to separate investments or portfolios of investments belonging to the owners of different classes of shares are ongoing.

“The company is also involved in discussions to purchase majority stake in a private company,” MedTech said.

The company said the economic rights which would belong to a separate class of shares and which would constitute a category 1 transaction in terms SI 134 of 2019.

These transactions, if successfully concluded, may have a material impact on the price of the company’s shares.

“Accordingly, shareholders are advised to continue exercising caution when dealing with the company’s shares until a full announcement is made,” read the update.

Medtech Holdings Limited specialises in manufacturing and marketing consumer products.

The company’s Net sales breakdown by activity as follows: sale of consumer goods 81.4%: hygiene products, cosmetic products, personal care products, manufacturing of hygiene, cosmetic and textile products 16.3% and distribution of pharmaceuticals constitute 2.3%.

The group engages in the manufacturing, marketing and distribution of health, hygiene, beauty and pharmaceutical products.

It consists of manufacturing, trading and services business units.

Manufacturing comprises two factories engaged in the manufacture of medical disposables and plastic products.

The Trading unit makes the manufactured products and trade in other medical and scientific products.

MedTech Holdings Limited operates through several wholly owned subsidiaries, including MedTech Hospital Products (Private) Limited, MedTech Medical and Scientific (Private) Limited, Zvemvura Trading (Private) Limited, Vinpel Trading (Private) Limited, as well as Zimbabwe Pharmaceuticals (Private) Limited.