The ZSE has been busy these past few days. Barely a week after the Zimbabwe Stock Exchange (ZSE) stopped the trading of Cassava Smartech (Ecocash Holdings)’ shares they have announced the end of suspension of trade in CFI shares. While Cassava was suspended for failure to publish audited financial statements on time CFI had been suspended over “corporate governance issues”
Below is a full text of the announcement from the ZSE:
Statement b the Zimbabwe Stock Exchange Limited (ZSE) on the Lifting of Suspension in tarding of CFI Holdings (CFI) Shares
The Zimbabwe Stock Exchange Limited (“ZSE”) hereby notifies the investing public of the lifting of suspension in the trading of CFI securities. Trading in the securities of CFI will commence on Monday 11 October 2021.
Trading in the securities of CFI was suspended on 2 January 2018 for failure to comply with the free float requirements and some corporate governance related matters under the ZSE Listing Requirements.
The ZSE is satisfied that CFI has regularised its corporate governace shortcomings as required under the listing requirements. Whilst the issue of the free fload remains unresolved, the ZSE has given CFI a moratorium of five (5) years to address the free foat requirements. The ZSE will be reviwing progress on the regularisation of its suspension., CFI demonstrated commitment to its listing on the ZSE by ensureing timely compliance with its continuing listing obligations and reporting cycles.
For and on behalf of the Zimbabwe Stock Exchange Limited
J Bgoni
Chief Executive Officer
8 October 2021
The full text of the ZSE notice
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