Chronicle Editor
Senior Business Reporter
HOSPITALITY group African Sun Limited has notified its shareholders that the Zimbabwe Stock Exchange (ZSE) has granted it authority to delist its shares from the bourse in preparation for migration to Victoria Falls Stock Exchange (VFEX).
On 6 February, the board of directors of African Sun passed a resolution in support of the termination of ZSE Listing.
In a notice today (Tuesday) the hospitality firm that is in line to be the first from its sector to join the US dollar-denominated bourse said “A cautionary announcement has been issued to the Shareholders of African Sun, informing them of the Company’s intention to delist from the ZSE. The ZSE has granted authority to delist African Sun’s shares from the ZSE subject to the conditions listed below:
“The passing by Shareholders of African Sun of the resolutions, by the requisite majority, at an EGM to be held on Tuesday, 28 March 2023, in terms of the Notice of the EGM published in the national press dated Tuesday, 7 March 2023 and obtaining all such necessary regulatory approvals as may be required, including issuing a letter of good standing by the ZSE to African Sun.”
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