Zimbabwe Stock Exchange terminates 3 listings

The Zimbabwe Stock Exchange (www.zimbabwe-stock-exchange.com) has informed investors and the public in a press release that it has terminated the listings of 3 companies with effect from 23 Apr 2013. In terms of Section 1.18 of the ZSE listing rules, they cannot be traded on the ZSE official list again. The companies are:
Barbican Holdings Limited
The Company was suspended in 2004 following the closure of the Company’s banking subsidiary by the Central Bank. Since then, Barbican Holdings has failed to meet its continuing obligations. No response has been received from the principals of Barbican Holdings Limited at the last known address.
TZI Limited
The Company was suspended in 2004 following a material adverse event in a Zambian subsidiary. Since then, TZI Limited has failed to meet its continuing obligations. No response has been received from the principals of TZI Limited at the last known address.
Red Star Holdings Limited
The Company requested for a suspension rather than a delisting at the time of the conclusion of a Scheme of Arrangement within the group. Since then, there has been no report of progress on the purpose of which the suspension was made. Consequently, a decision to terminate has been made.
The order was announced by the Interim Board of the ZSE.

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