THE Zimbabwe Stock Exchange (ZSE) has advised
the investing public of the voluntary termination of listing of PG Industries
(Zimbabwe) Limited and Willdale Limited preference shares with effect from
yesterday.
ZSE chief
executive officer Mr Justin Bgoni said the two companies cited different
reasons requesting the termination of their listings on the local bourse.
“Following the
approval of the Secondary Scheme of Arrangement by shareholders and creditors
of PG Industries Zimbabwe (PGIZ) on September 15, 2016 and fulfilment of all
conditions precedent in December 2018, PGIZ applied for voluntary termination
of its listing on ZSE pursuant to paragraph 1.10E of the ZSE Listing
Requirements,” said ZSE.
“ZSE noted that
PGIZ no longer met the minimum number of public shareholders for a listed
company defined in paragraph 4.25(e) in Section 4 of the ZSE’s Listing
Requirements.”
As required by
Section 64 (a) (i) of the Securities and Exchange Act (Cap 24.25), the ZSE
sought and was granted permission by the Securities and Exchange Commission of
Zimbabwe (SECZ) to delist PGIZ from the ZSE’s official list.
Mr Bgoni said
in terms of Section 1.18 (d) of the ZSE Listing Requirements, holders of PGIZ
Limited’s securities are hereby advised that the securities can no longer be
traded on the ZSE with effect from April 8, 2019.
On Willdale
Limited, he said: “Following the redemption of 99.74 percent of the ZSE listed
10 percent semi-annual redeemable preference shares, Willdale Limited requested
for the termination of listing of the preference shares.
“Pursuant to
Section 64 (a) (i) of the SECZ Act (Cap24.25), ZSE sought and was granted
permission by the SECZ to delist Willdale Limited’s preference shares from the
ZSE’s official list”.
In terms of
Section 1.18 (d) of the ZSE Listing Requirements, Mr Bgoni also said holders of
Willdale Limited’s preference shares were hereby advised that the securities
can no longer be traded on the ZSE with effect from April 8, 2019. Herald
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