Chronicle Editor
Senior Business Reporter
INNSCOR Africa Limited shareholders have approved the firm’s migration from the Zimbabwe Stock Exchange (ZSE) to the United State denominated Victoria Falls Stock Exchange (VFEX).
The resolutions published yesterday were passed during an Extraordinary General Meeting of Shareholders.
On the table was the delisting of Innscor Africa Limited from the ZSE, which has been authorised with unissued shares being placed under the control of the director.
Directors authorised to give effect to resolutions and appointment of BDO Zimbabwe Chartered Accountants as auditors.
In January, the firm outlined its roadmap towards listing on VFEX but cautioned shareholders that in the event of the proposed transaction not materialising, it will remain listed on the ZSE.
According to the timelines, it projects to complete the listing process on 24 February. The last day of trading on ZSE is set for February 17 while the termination of Innscor ZSE listing and transfer of Innscor share register from the ZSE to the VFEX is planned for February 23 with the estimated completion of Innscor’s VFEX listing earmarked for February 24.
Innscor’s operations span various sectors of the economy. The group engages in food processing and the manufacture, distribution, and retailing of household commodities and fresh produce.
derick.khumalo