Zim Now Writer
The Board of Directors of Lafarge Cement Zimbabwe Limited has announced that the company is changing its trade name to Khayah Cement following the exiting of Associated International Cement Limited from the business.
In a statement, Lafarge said the company will trade as Khayah, pending the finalisation of the registration by the Registrar of Companies.
“The Company is reconstituting the composition of the Board of Directors as well as the necessary Board Committees. In this latter regard, the announcement of the relevant appointments will be made shortly,” reads the statement.
The Company has, however, reassured the public that these processes have no material effect on either the quality or availability of Company’s range of products as well as its overall operations.
At one time the company was known as Circle Cement.
Meanwhile, the Zimbabwe Stock Exchange (ZSE) has announced the voluntary suspension of Lafarge Cement from the ZSE.
In a statement, the ZSE said Lafarge is voluntarily suspended from trading in shares of Lafarge Cement Zimbabwe with effect from January 13.
“The suspension is for a period of three months to allow Lafarge to attend to material developments within its operations post the execution of a sale and purchase agreement between Associated International Cement Limited and Fossil Mines (Pvt) Ltd for a 76.45 percent shareholding in Lafarge.
“At Lafarge’s request, the ZSE sought and was granted permission to suspend trading in its shares by the Securities and Exchange Commission of Zimbabwe pursuant to the provisions of Section 64(a)(ii) of the Securities and Exchange Act [Cap24:25],” ZSE said.
Investors will not be able to sell or buy Lafarge shares during the suspension period.
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