The Zimbabwe Stock Exchange (“ZSE”) hereby notifies the investing public of the suspension from trading in shares of CFI Holdings Limited for a period of three (3) months with effect from 2 January 2018 to allow the Company to comply with the following continuing obligation:
• Compliance with free float requirements as per Section 4 paragraph 4.25 (d) of the Listing Requirements; and
In addition to the above, the Company has also been requested to address the following governance related matters;
• Appointment of a substantive Board Chairman, Chief Executive Officer and Finance Director; and
• Appointment of Independent Non- Executive Directors who are not affiliated or have any association with any of the Company’s shareholders.
ZSE sought and was granted permission to suspend trading in CFI Holdings Limited’s shares by the Securities and Exchange Commission of Zimbabwe pursuant to the provisions of Section 64(a) (ii) of the Securities and Exchange Act [Cap 24:25].
In terms of Section 1 paragraph 1.8 of the ZSE Listings Requirements, the Company should continue to discharge its obligation to the Shareholders and the Zimbabwe Stock Exchange during the suspension.
CFI zw – Statement by ZSE 03.01.2018