TIMELINE OF INTERMARKET FATE

In 2004, Mr Vingirai “flees” Zimbabwe after being accused of externalisation. In 2006, through a scheme of arrangement, ZB ultimately assumes a 51 percent stake from the RBZ, which had helped bailout Intermarket. THL (Mr Vingirai’s investment vehicle which formerly held 72 percent in IHL) was diluted to 15,42 percent. Notably, the sale of IHL stake of ZBFH was concluded in November 2006 at the price of Z $5 billion, with the former becominga controlling shareholder with a 60 percent stake. THL seeks legal recourse for being denied the right to follow its pre-emptive rights. November 14, 2011, Mr Vingirai returns to Zimbabwe and is arrested at the Harare International Airport. In October 2012, former RBZ Governor writes a letter urging the return of the banker’s assets. In July 2013 (five years after ZB merger), High Court judge Justice Susan Ma vang ira lifted cave at number 368/04, which essentially covered International Discount House and Intern market Banking Corporation. She also ordered the return of four of his properties — two houses in Greystone Park ( number 554 and 555) and two in Sentosa, Mabelreign (number 2262 and 2280 — be returned. On May 31, 2016, THL reaches an agreement with Government through which it gets 19,79 percent equity in Z BF H. NS SA becomes the largest shareholder at 37,79 percent. Government share whittled to 3,7 percent. On May 12, 2017, Mr Vingirai’s appointment as non-executive director in Z B, including of his nomineesis blocked. Fall out follows payment of US $658,699 dividend paid by ZB to THL on January 23, 2017.