Further to the public notice issued on 30 September 2021, the Zimbabwe Stock Exchange Limited (ZSE) hereby notifies the investing public that trading in the shares of Cassava Smartech Zimbabwe Limited (Cassava) on the Zimbabwe Stock Exchange (“ZSE”) is now suspended with effect from 1 October 2021.
The Securities and Exchange Commission of Zimbabwe approved ZSE’s application for the suspension in the trading of Cassava’s shares in terms of section 64 (1) (a) (ii) of the Securities and Exchange Act, Chapter 24:25.
Cassava is obliged to continue to comply with all the listing requirements applicable to it during this period of suspension as provided in section 9 of Statutory Instrument 134 of 2019 (ZSE Listings Requirements) which provides that:
Unless the ZSE has decided otherwise, an issuer whose securities have been suspended must;
- continue to comply with all the listing requirements applicable to it.
- submit to the ZSE at least once every quarter or at such other times as the ZSE may determine progress reports relating to the state of affairs of the Company and any proposed action by it.
- advise shareholders on a quarterly basis about the state of affairs of the Company and any proposed action by the Company, including the date on which it expects that the suspension will be lifted.
We further advise that the suspension will be lifted once the issuer has published its audited financial statements for the year ended 28 February 2021.
For and behalf of the Zimbabwe Stock Exchange
Chief Executive Officer
Zimbabwe Stock Exchange Limited
Date of Issue: 04 October 2021