TECHNOLOGY and printing firm Celsys has delisted from the Zimbabwe Stock Exchange after it breached some ZSE listing rules after applying for voluntary suspension.
Celsys applied for voluntary suspension which following a proposed takeover and reverse listing by Cambria Africa Limited through a Scheme of Arrangement which was granted in 2012.
The company however violated listing rules by failing to publish results; failure to provide quarterly reports; non-convening of annual general meetings and non-payment of annual listing fees for 2014 and 2015.
“The Zimbabwe Stock Exchange hereby advises that Celsys Limited will be removed from the official list with effect from February 9, 2016,” said the ZSE in a notice.
Now with 61 active counters, the ZSE at its peak had 79. Over 10 counters have delisted from the ZSE in the past six years.
Counters that have been struck off the ZSE register include African Banking Corporation, Astra Holdings, Pelhams, Trust, Tractive Power, Interfresh Holdings and PG Holdings, among others. -Staff Writer