Published: 21 February 2014

Chemco Holdings plans to delist from the Zimbabwe Stock Exchange this year as it seeks shareholder approval for the transaction due to limited retail and institutional investor interest in Chemco shares, the company said in a statement.

Chemco said in its circular to shareholders yesterday it was seeking approval at an extraordinary general meeting scheduled for next month.

Shareholders were expected to approve the TSL Limited (Chemco's parent company) acquisition of minority shares through a share swap under which TSL would exchange a single TSL share for every 1.88 Chemco shares with the view to delist the company shares from the ZSE.  

The company said it was delisting because it has a small market capitalisation and the compliance and cost requirements of the ZSE were becoming onerous to the company.
- newsday

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