On a Date with Tobacco Sales Limited

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My life's work is to provide platforms that bring value, edge and efficiency in agricultural handling 👇. Welcome to On a Date with a listed company on the Zimbabwe Stock Exchange (ZSE) THREAD: On a Date with Tobacco Sales Limited (TSL)

#1. History, 1936, The Tobacco Marketing and Levy Act ushers the creation of the Tobacco Marketing Board (TMB). TMB necessitates the selling of tobacco through the AUCTION floors. 61 years later TMB is renamed Tobacco Industry and Marketing Board (TIMB).

1938, TMB realize the need to create a separate company to handle auction floors. The realization creates Tobacco Producers Floor (TPF) which becomes successful. 1946, Rhodesia Tobacco Warehouse and Export Company (RTWEC) is established taking over TPF.

1957, Tobacco Sales Floor (TSF) begins trading and is subsequently listed on the@ZSE_ZW 1994, It had cornered the market for the flue cured tobacco becoming a monopoly in the sector Rival business TPF the subsidiary of RTWEC had been taken over by TSL.

1996, TSF acquires a controlling stake in Propak, a specialist packaging company thereby transforming it into a subsidiary. 2005, A block of shares in Chemco Holdings is bought and 9 years later full control is taken resulting in its delisting.

The purchase of Chemco Holdings brought in a strategic unit Agricura which is a pillar in the agricultural cluster of TSL. 2012, Bak Logistics a wholly owned unit of TSL acquires Premier Forklifts to complement its material handling capabilities.

2015, Key Logistics a freight forwarding and customs clearing business is acquired. It had the sole agency of DB Schenker. Chimayo Investments is acquired

#2. Operations, TSL is an integrated business which focuses on, • Agricultural Inputs (fertilizer, chemicals and packaging). • Farming • Logistics • Commodity marketing (Auction floors & ZMX digital platform). AND • Real Estate

Operational Clusters Agriculture ° Agricura ° Propak Hessian ° Tobacco Sales Floor (TSF) ° Chimayo Investments Logistics ° Bak Logistics ° Key Logistics ° Premier Forklift ° Avis Budget Group Real Estate ° HGP Vostermans ° Propak ° Southerton

AGRICURA √ selling of agricultural inputs and hardware. PROPAK HESSIAN √ supply of tobacco Hessian wraps and manufacturing of Paper. TOBACCO SALES FLOOR √ operate tobacco auction floors in Harare, Karoi, Marondera & Mvurwi

CHIMAYO INVESTMENTS √ involved in the farming of tobacco, seed/commercial maize, soya bean, chillies and banana. BAK LOGISTICS √ support general and specialized warehousing, inland port services, supply chain solutions AVIS √ motor vehicle rentals

KEY LOGISTICS √ support freight forwarding and customs clearing services. PREMIER FORKLIFT √ Provides clients with forklifts and ancillary services. TSL PROPERTIES √ the group manages a number of industrial real estate.

#3. Competitors, TSL is a diversified holding business with units focused in agriculture, logistics and real estate. Its key rivals, • Boka Tobacco Floor • Europcar • Ethical Leaf Tobacco • CFI Holdings • Unifreight • Mashonaland Holdings

#4. Share price, 42,5 ZWL per share as at December 16, 2022 70,2 ZWL per share on the 3rd of January 2022 47th on ranking in terms of year to date performance on the ZSE 26th most traded stock over the past 3 months to 16/12/2022 357,102,445 issued shares

#5. Shareholding, 28,28% of TSL is owned by Closefin Investment a consortium of local business executives led by former CEO Washington Matsaira and TSL chairperson Mandiwanza. 24,94% of TSL is held by Ramsway an investment vehicle owned by the Rudland family

#6. Management, Derek Odoteye - Group CEO since February 1, 2020. √ A qualified Chartered Accountant √ Held several senior roles at TSL including COO, CFO & MD for Logistics Operations √ Formerly a senior manager at Deloitte working in USA and UAE.

#7. Pitch, Heavily invested in the tobacco value chain which is Zimbabwe's largest agricultural forex earner. Unique advantage in the movement products to ports through its partnership with DP World & Unitrans. Increased market share in auction floors.

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