Business - Companies & Markets - Featured - Finance - Local - October 22, 2020

SeedCo Delisted from Zimbabwe Stock Exchange

By Tariro Chimhanda

THE Zimbabwe Stock Exchange has terminated the listing of SeedCo International starting tomorrow.

In a statement ,Zimbabwe Stock Exchange Limited Chief Executive Officer Justin Bgoni said the delisting was necessitated by the move by the company to list on the Victoria Falls Exchange Limited on 25 October.

“In terms of Section 1.18 (d) of the ZSE Listing Requirements, holders of Seed Co International’s securities are hereby advised that the securities can no longer be traded on the ZSE with effect from 23 October 2020. Seed Co International’s securities will be listed on the Victoria Falls Stock Exchange Limited on 25 October 2020,”Bgoni said.

The ZSE said the termination was guided by the Securities and Exchange Act.

“As required by Section 64 (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 (“SECZ”) to delist Seed Co International from the ZSE’s official list,” stated ZSE.

The delisting comes a few months after the Ministry of Finance and Economic Development of advised of the conclusion of investigations relating to alleged participation in parallel foreign currency market activities by dual-listed companies but exonerated Seed Co International Limited.

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