Our Investor Community enables you to discuss, analyse, blog, live chat and engage with likeminded people on JSE and USA-listed companies and more. FREE to join!
- News Home
HWANGE COLLIERY COMPANY LIMITED - Update on Suspension of listing on UK Official List and Trading on the London Stock Exchange
Update on Suspension of listing on UK Official List and Trading on the London Stock Exchange Hwange Colliery Company Limited HWANGE COLLIERY COMPANY LIMITED (Incorporated in Zimbabwe under registration number 381/1954) ZSE Share Code: HCCLISIN: ZW0009011934 JSE Share Code: HWA ISIN: ZW0009011934 LSE Share Code: HWA ISIN: ZW0009011934 ("Hwange") Suspension of listing on UK Official List and Trading on the London Stock Exchange Hwange Colliery Company Limited, a company duly registered in terms of the laws of the Republic of Zimbabwe hereby announces that its shares listed on the Standard Segment of the UK Official List and traded on the London Stock Exchange ("LSE") have been suspended with effect from 10 February 2020 at 1615hrs GMT (1415 hrs CAT). The suspension follows the company's placement under reconstruction on 26 October 2018, in terms of a Reconstruction Order issued by the Minister of Justice, Legal and Parliamentary Affairs of Zimbabwe in terms of the Reconstruction of State-Indebted Insolvent Companies Act Chapter 24:27 of Zimbabwe ("the Reconstruction Act"). The company's appointed Administrator is Mr Bekithemba Moyo with Ms Mutsa Remba and Mr Munashe Shava as his assistants. The effect of the company's placement under reconstruction is that the company's board of control was divested, and management of the company's affairs was placed on the company's Administrator. Further, in terms of section 6(d) of the Reconstruction Act, the trade of the company's shares on the LSE is affected, as every transfer of shares or alteration of the status of members of the company made after the commencement of reconstruction is void, unless the administrator orders otherwise. The suspension will run until the end of the company's reconstruction period. All stakeholders will be notified once the company's reconstruction has been concluded. For further information, please contact the company's Company Secretary on +263 242 781 985-7. Zimbabwe 14 February 2020 Sponsor: Sasfin Capital (a member of the Sasfin Group) Date: 14-02-2020 04:26:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.