Bata Zambia Calls EGM to Approve ZMW 2 Million Capital Increase
Zambia Bata Shoe Company PLC has announced that it will hold an Extraordinary General Meeting (EGM) on 27 November 2025 to seek shareholder approval for a proposed increase in authorised share capital and to grant directors authority to implement the necessary resolutions.
According to a statement issued by the Company Secretary, Amicus Corporate Services, the EGM will be held virtually at 10:00 hours, allowing shareholders to participate online or through proxy.
Under Resolution 1, shareholders will be asked to approve the increase of the company’s authorised share capital from ZMW 780,000.00 to ZMW 2,000,000.00 through the creation of 122,000,000 new ordinary shares with a nominal value of ZMW 0.01 each. The new shares will carry the same rights as existing ordinary shares.
The proposal aligns with the Companies (Fees) Regulations, 2022, which require all public companies to have a minimum nominal capital of ZMW 2,000,000. The company’s board of directors passed a resolution on 10 September 2025 supporting the adjustment to meet the legal threshold.
“The increase in share capital is intended to align the company’s structure with the requirements of the Companies Act,” the notice reads, adding that the newly created shares will remain unissued and that the change will not dilute existing shareholders’ interests.
Resolution 2 seeks shareholder approval to empower the company’s directors to “do all such acts, deeds and things as may be necessary” to give effect to the resolutions, including executing related documentation and appointing authorised signatories.
Shareholders wishing to attend the meeting must register by email at info@amicuscorporate.co.zm before the EGM date, while those unable to attend can appoint a proxy to vote on their behalf by submitting proxy forms no later than 48 hours before the meeting.
The announcement was issued with the approval of the Lusaka Securities Exchange (LuSE), the Securities and Exchange Commission (SEC), and Zambia Bata Shoe Company PLC.
The company’s sponsoring broker, Pangaea Securities Limited, confirmed that the notice complies with all regulatory requirements.
