Sundaymail Editor
Online Reporter
Agro-firm CFI Holdings will resume trading on the Zimbabwe Stock Exchange (ZSE) on Monday following the lifting of its suspension.
The ZSE suspended CFI in 2018 over non-compliance with a number of listing requirements such as the free-float threshold, appointment of a substantive board chair, chief executive, financial director and independent non-executive directors.
Over the past few years, the company has been working to comply with the requirements. In a statement on Friday, the ZSE said trading in the securities of CFI will commence on October 11, 2021 after the company met some of the key requirements.
“The ZSE is satisfied that CFI has regularised its corporate governance shortcomings as required under the listing requirements.
“Whilst the issue of the free float remains unresolved, the ZSE has given CFI a moratorium of five years to address the free-float requirements,” said ZSE chief executive Mr Justin Bgoni.
“The ZSE will be reviewing progress on regularisation of this requirement on an annual basis.
“During the subsistence of its suspension, CFI demonstrated commitment to its listing on the ZSE by ensuring timely compliance with its continuing listing obligations and reporting cycles.”
Online Reporter