Truworths, currently undergoing corporate rescue, along with its subsidiaries, Topic Stores and Bravette Manufacturing Company, is set to hold a crucial shareholder meeting on 25 February in Harare.
Trading of Truworths’ shares was suspended on 7 March 2024 after the company requested a voluntary suspension.
The retailer has been struggling with inflationary pressures and tight liquidity, which have led to reduced demand and declining consumer spending.
As reported by the <a href="https://www.chronicle.co.zw/crucial-shareholder-meeting-for-truworths/">Chronicle</a>, the primary agenda of the meeting will be to implement Section 10 of the corporate rescue plan, which includes the acquisition of shares by Valfin Investments for US$1 and the delisting of Truworths from the Zimbabwe Stock Exchange.
The resignation of the current board and the appointment of a new one will also be discussed.
An update on the approval of Valfin as an investor in Truworths, as well as the potential merger of the two businesses, will be reviewed during the meeting.
Truworths is a well-known retailer offering a wide range of fashion apparel, including clothing, footwear, bags, shoes, perfumes, and homeware products for men, women, teenagers, and children.

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Truworths is having a meeting to decide what to do next because they are having money problems. Their shares were stopped from being sold in March 2024 because of this. They want to buy shares from Valfin Investments, and they might also stop being on the stock exchange in Zimbabwe. The current board might leave and a new one could come in. They also want to talk about whether Valfin can invest in Truworths and if they can merge with another company. Truworths sells lots of things like clothes, shoes, bags, and perfumes for everyone in the family.

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