Online Reporter
DAIRIBORD Holdings says its planned migration from the Zimbabwe Stock Exchange (ZSE) to the Victoria Falls Stock Exchange (VFEX) has taken a new twist after shareholders who hold a controlling 51 percent stake revealed plans to dispose of their shares to an unnamed investor.
This comes weeks after the dairy processor announced plans to migrate its listing from ZSE to the United States dollar-denominated VFEX.
In a cautionary statement, Dairibord said it had received a joint notice from three of its major shareholders, namely Equivest Asset Management (Private) Limited, Mega Market (Private) Limited and Mutare Mart & Exchange (Private) Limited, advising the board that they had entered into negotiations with an unnamed third party over the potential acquisition of a controlling block of shares.
“Together, they have advised the board that their aggregate shareholding in the company constitutes more than 51 percent of the company’s issued ordinary shares and that they have entered into negotiations with an unnamed third party regarding the potential acquisition of a controlling block in the company,” the company said.
Dairibord said the proposed transaction, if successfully concluded, may have a material effect on the market price of its shares and urged shareholders and the investing public to continue exercising caution when trading the company’s stock.
