Trust delisted from ZSE

Business Reporter
TRUST Holdings Limited was yesterday delisted from the Zimbabwe Stock Exchange after failing to meet its continuing obligations in terms of the listing requirements. The decision was reached after Trust Holdings failed to provide quarterly shareholder updates, publish financial results and an annual report, convene a statutory shareholder meeting in 2013 and pay the stock exchange annual sustenance fees.

“The ZSE sought and obtained the permission of the Securities and Exchange Commission to delist the company,” ZSE said in a statement yesterday.

Trust Holdings applied for the company’s shares to be temporarily suspended from trading on May 27 this year and the ZSE acceded to the request to suspend trading in the company’s shares with effect from May 31 in order to protect shareholder value.

The suspension was to be reviewed upon clearance of all outstanding issues.

It becomes the seventh stock to be delisted from the ZSE while Interfresh which yesterday gave notice of an extraordinary general meeting to seek approval to be struck off the register will be the eighth.

Meanwhile, the ZSE shares recovered from Tuesday losses led by heavyweights shares.

After trades, the industrial index advanced 0,16 percent to 217,53 lifted by gains Delta and Econet.

The mining index gained 3,07 percent to 47,02 on gains in Bindura Nickel Corporation.

Daily market turnover was US$1 million at US$2,12 million on a volume of 11,14 million shares.

Delta gained 0,01 percent to US150,51c while Econet rose 1 percent to US61,61c. OK Zimbabwe was stable at US25c after recording a limited revenue growth of 5,4 percent to US$243,6 million during the half year ended 30 September this year.

GB Holdings led the gainers, adding 25 percent to US0,1c while TA Holdings was up 16,67 percent to US7c. RTG added 15,38 percent to US1,5c.

Zimplow Holdings rose 7,9 percent at  US4,1c and FBC Holdings advanced 7,1 percent to US13,5c.

Innscor was unchanged at US86c ahead of its annual general meeting tomorrow (Friday).

Bindura rose 11,11 percent to US2c while RioZim lost 3,03 percent to US32c.

Hwange was stable at US9c. Interfresh fell 66,67 percent to US0,5c after announcing plans to delist from the ZSE.

Dawn Properties shed 17,24 percent to US1,2c.

Star Africa lost 7,14 percent to US1,3c and Meikles Limited fell 3,7 percent at US26c. African Sun dropped 3,57 percent to US2,7c and PPC lost 0,08 percent to US252c.