Truworths shares suspended as significant shareholders negotiate positive business prospects

Senior Business Writer

RETAIL clothing outlet, Truworths, says company shareholders are involved in negotiations that could have a significant positive impact on the prospects of the business.

The firm’s shares stopped trading at the Zimbabwe Stock Exchange (ZSE) on 7 March.

That was after it applied for voluntary suspension of its securities from trading on the ZSE to attend to some compliance-related matter

In a notice to shareholders, Truworths said: “The investing public are hereby advised that significant shareholders of the company are involved in negotiations that could have a significant positive impact on the prospects of the business.

“The market will be advised of further developments upon conclusion of this transaction. The company’s shares remain suspended,” said the company.

Truworths Limited is a company incorporated and domiciled in Zimbabwe whose shares are publicly traded. Its core business is the retailing of clothing, footwear, textiles and accessories.