The Zimbabwe Independent
Taurai Mangudhla
POWERSPEED Electrical Limited (Powerspeed) shareholders on Monday unanimously approved a resolution that the company’s shares be removed from Zimbabwe Stock Exchange bourse through voluntary termination of the listing, effectively ending its 20-year run on the bourse.
This comes after a number of counters, including Dawn Properties, Falgold, ZimRe Property Investments and SeedCo have delisted from the ZSE this year.
Powerspeed, which listed on the ZSE in July of 2000, earlier this year, expressed its intent to delist with the actual date of the delisting expected to be December 18, 2020.
In terms of section 11 of the ZSE Listing Requirements to be effective, this resolution to delist must be passed by not less than 75% of the votes of all shareholders present or represented by proxy at the EGM.
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