On The Money - In Brief

Mergers, Acquisitions and Financial Results

- Winston Makamure, Managing Director of Tel-one has applied to the Reserve Bank of Zimbabwe (RBZ),for concessionary funds under the Public Sector Facility. He could not disclose the amount, which the company has applied for, save to say it was running into several billions of dollars.

- The Pinnacle Technology Holdings board has proposed a maiden dividend of 1.5c a share for the year to 30 June. The company's net profit for the year rose from R2.41 million to R12.66 million, while headline earnings of 8.9c a share were up from 4.8c previously. Revenue increased by 19% from R417.82 million to R497.2 million. Pre-tax profit of R20.56 million compared with R12.78 million previously.