The Zimbabwe Stock Exchange (ZSE) has lifted the suspension that had been imposed on the Trading of CFI Holdings Limited (“CFI”) Shares. ZSE Chief Executive Justin Bgoni said 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. Reads the statement:
Statement by the Zimbabwe Stock Exchange Limited (ZSE) on the Lifting of Suspension in the Trading of CFI Holdings Limited (“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 governance shortcomings as required under the listing requirements. Whilst the issue of the free float remains unresolved, the ZSE has given CFI a moratorium of five (5) years to address the free float requirements.
The ZSE will be reviewing progress on regularisation of this requirement on an annual basis. During the subsistence of its suspension, CFI demonstrated commitment to its listing on the ZSE by ensuring timely compliance with its continuing listing obligations and reporting cycles.
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