Vusumuzi Dube
Judith Phiri, Business Reporter
THE Zimbabwe Stock Exchange (ZSE) has halted the trading of Edgars Stores Limited shares and it will be delisted to pave way for its listing on the on the fast-expanding Victoria Falls Stock Exchange (VFEX).
Edgars Stores will be the first retail clothing entity to list on the VFEX after shareholders overwhelmingly approved the delisting ZSE. The approval was granted at an Extraordinary General Meeting of shareholders held last Friday.
In a statement, ZSE chief executive officer (CEO), Mr Justin Bgoni said they will institute a trading halt on Edgars Stores shares effective Thursday.
“The Zimbabwe Stock Exchange Limited (ZSE) hereby notifies the investing public that the last day of trading in Edgars Stores Limited (EDGR.ZW) shares on the ZSE is Wednesday, 27 March 2024. The ZSE will therefore institute a trading halt on Edgars Stores Limited shares effective Thursday, 28 March 2024 to allow for the settlement of shares,” he said.
“Pursuant to the company’s Extraordinary General Meeting (EGM) held on Friday, 25 March 2024, the ZSE has requested authorisation from the Securities and Exchange Commission of Zimbabwe (SECZIM) to delist Edgars Stores Limited from the ZSE and subsequently list it on VFEX.”
He said during the halt period, investors will not be able to buy or sell Edgars Stores Limited shares, while trading of the shares is expected to commence on VFEX on Monday, 08 April 2024 subject to SECZIM approval.
Bongani Ndlovu