Online Reporter
Judith Phiri,Zimpapers Business Hub
THE Zimbabwe Stock Exchange (ZSE) Limited has delisted Truworths Limited following its voluntary termination of listing with effect from 22 July 2025.
In a statement, ZSE Group chief executive officer (CEO), Mr Justin Bgoni said they were granted permission to delist Truworths from the ZSE’s official list.
“Following the Board of Directors of Truworths voluntarily placing the company under corporate rescue, the shareholders of Truworths met on 20 February 2025 and passed the resolution for the voluntary termination of its listing on the ZSE in accordance with Section 11 of the ZSE Listing Requirements,” he said.
“As required by Section 64 (1) (a)(i) of the Securities and Exchange Act [Cap24.25], the ZSE sought and was granted permission by the Securities and Exchange Commission of Zimbabwe (SECZim) to delist Truworths from the ZSE’s official list.”
He said in terms of Section 15 (d) of the ZSE Listing Requirements, holders of Truworths’ securities are hereby advised that the securities can no longer be traded on the ZSE with effect from 22 July 2025.
In August last year, the clothing retail giant Truworths and all its subsidiaries (Topic Stores and Bravette Manufacturing Company) were placed under corporate rescue, a local form of bankruptcy protection.
Crowne Advisory, appointed as Corporate Rescue Practitioners (CRP), initiated the proceedings under Section 122 of the Insolvency Act.
The legal provision allows a company’s board to voluntarily enter corporate rescue if it faces financial distress and believes there is a reasonable chance of recovery.
