Zim Now Writer
Zimbabwe Stock Exchange has authorised to African Sun Limited delist its shares from the local currency bourse in preparation for migration to forex denominated Victoria Falls Stock Exchange.
The hospitality organisation informed stakeholders in a statement.
“A cautionary announcement has been issued to the Shareholders of African Sun, informing them of the Company’s intention to delist from the ZSE. The ZSE has granted authority to delist African Sun’s shares from the ZSE subject to the conditions listed below:
“The passing by Shareholders of African Sun of the resolutions, by the requisite majority, at an EGM to be held on Tuesday, 28 March 2023, in terms of the Notice of the EGM published in the national press dated Tuesday, 7 March 2023 and obtaining all such necessary regulatory approvals as may be required, including issuing a letter of good standing by the ZSE to African Sun.”
African Sun recently lost tenancy of the iconic Kingdom Hotel in Victoria Falls. The group is now left with ten hotels and continues to dominate the resort town through its Elephant Hills Resort and Conference Center as well as the Victoria Falls hotel.
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