Cambria ZSE listing delayed

of its parent company, Cambria Plc.
Sources privy to developments said for purposes of transparency the ZSE can request disclosure of certain material financial information.
Public firms have up to three months from the end of their financial year to publish the record of their performance over six or 12 months.
It means Cambria has up to the end of November to publish its accounts, after which it would proceed with its secondary listing on the ZSE.
“I am not aware of the information they have been asked to disclose but it is part and parcel of what stock exchanges demand,” said the source.
In a statement yesterday, Celsys confirmed that its listing remained suspended on the ZSE and that the listing of Cambria would take place only after the publication of its audited accounts.
In a statement on its suspension and the proposed listing of Cambria yesterday, Celsys said the secondary listing would only take place after the publication of the audited results for Cambria for 2012 financial year-end.
Celsys suspension will continue until this takes place.
“The directors of Celsys Limited wish to advise (its) shareholders that the proposed delisting of Celsys and the listing of Cambria Africa Plc has been rescheduled to take place after the publication of the audited results for Cambria for the year ended August 31, 2012,” Celsys said in a statement released last month.
Celsys has been suspended from trading on the ZSE, effective from August 28, 2012, until the proposed listing of Cambria on ZSE.
The proposed listing is a secondary one for Cambria as its primary listing will remain on the Alternative Investment Market of the London Stock Exchange, where it has been listed since 2007.
Cambria owns 61 percent of Celsys, which specialises in security printing and provision of information technology and telecommunications.
It owns 100 percent of Millpal, 51 percent of pharmaceutical distributor Panafmed and 51 percent of mobile software producer ForgetMeNot.
Cambria, previously LonZim, held a 79 percent shareholding in beachfront-located Adeamento Turistico de Macuti Hotel in Mozambique and planned to invest the proceeds of that sale in Zimbabwe.
In addition, it owns 100 percent of electronic transfer solutions Paynet and the exquisite Leopard Rock Hotel in the Eastern Highlands.