Sikhulekelani Moyo [email protected]
WESTPROP Holdings Limited (WPHL) has completed its scheme of reconstruction, transferring its Pomona Properties landbank to Alpha Holdings Africa (Private) Limited as part of a strategic realignment of the group.
In a notice to stakeholders dated 29 October 2026, company secretary Kerry Leigh Stubbs said the reorganisation followed approval by shareholders at an extraordinary general meeting held on 1 September 2026.
The transaction involved the transfer of Pomona Properties (Private) Limited to Alpha Holdings Africa (Private) Limited, with the asset comprising a 161,51-hectare landbank.
“The asset transferred into Alpha Holdings Africa (Private) Limited through a transfer of Pomona Properties (Private) Limited shares consists of the Pomona Properties landbank measuring 161,51 hectares,” said WestProp.
The group said it had retained assets valued at an estimated US$110,2 million, which will remain listed on the Victoria Falls Stock Exchange (VFEX) under the share code WPHL.
WestProp said the reconstruction was implemented through a share transfer in terms of section 232(1)(c) of the Companies and Other Business Entities Act [Chapter 24:31].
The transaction was undertaken on a tax-neutral basis in accordance with section 15(1)(b) of the Capital Gains Tax Act [Chapter 23:01].
The company assured stakeholders that its existing business operations would continue as normal, with all commercial arrangements remaining valid and enforceable.
“Stakeholders are assured that there will be no disruption to services or contractual performance as a result of this restructuring,” the notice said.
WestProp also advised that its voluntary exit offer closed on 9 October 2026, while the share split was completed on 28 October 2026.
“The 30 000 000 ordinary shares, which were subdivided into one million ordinary shares, commenced trading on 28 October 2026,” said WestProp.
