Result of AGM

Masawara PLC

("Masawara", "the Company")

Result of AGM

The Directors of Masawara Plc are pleased to announce that, at the AGM held yesterday, all the resolutions put to the meeting were unanimously approved.

The Directors also announce the resignation of David Suratgar as non-executive director and Chairman of the Company with effect from 7 June 2016. Christopher Getley, who was appointed non-executive director on 18 December 2015, becomes Chairman with effect from the same date.

Christopher Getley, the incoming Chairman of Masawara, commented as follows:

 "The Board extends its deepest gratitude to David for ably steering the Board from the Company's listing in 2010. We hope to continue to benefit from David's support in future.

I am honoured to be taking over the Chairmanship from David, and look forward to an exciting and fruitful journey".

Contact details

Masawara PLC:

Pride Masamba/Rutendo Maziva +263 4 751805 (of Masawara Zimbabwe (Private) Limited, the Company's Investment Advisor in Zimbabwe)

Cenkos Securities plc (Nominated adviser and broker):

Nicholas Wells +44 20 7397 8900