Agriculture-focused concern Ariston Holdings Limited is set to delist from the Zimbabwe Stock Exchange (ZSE) and list on the US dollar-denominated Victoria Falls Stock Exchange (VFEX), subject to shareholder and regulatory approvals.
In a Cautionary Statement issued today, the Board of Directors said it had approved the proposed voluntary delisting from the ZSE and the subsequent listing on the VFEX.
The Board said the transaction is in the best interests of the company and its shareholders, considering the group’s strategic objectives and the anticipated benefits associated with migrating to the VFEX, which trades in foreign currency and offers enhanced visibility to foreign investors.
Further details regarding the transaction, including the rationale, terms and requisite shareholder approvals, will be provided in a Circular to Shareholders currently being finalised and which will be published in due course.
“The transaction, if successfully implemented, may have a material effect on the market price of the company’s shares. Accordingly, shareholders and members of the investing public are advised to exercise caution when dealing in the company’s shares,” the company said.
The company clarified that the Cautionary Statement is for information purposes only and does not constitute an offer, invitation or solicitation to acquire, dispose of or otherwise deal in its securities.
Pending completion of the transaction, Ariston said it remains fully operational and will continue to conduct business in the ordinary course while complying with all regulatory and statutory obligations throughout the transition period.
The company said further announcements will be made in line with regulatory requirements as material developments occur.
