ZSE gives 30-day reprieve on financial results release

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HARARE – The Zimbabwe Stock Exchange (ZSE) has deferred the publication of listed companies 31 December Financial Statements and Statutory Shareholders’ meetings for 2019 due to Covid-19 pandemic.

The deferment will run until April 30, 2020.

In a statement, ZSE chief executive Justin Bgoni said the decision was reached on the back of the declaration by World Health Organization that the Novel Coronavirus is now a global pandemic.

All companies with half year and full year ending on 31 December 2019 have been granted a 30 day extension before they publish their results which were due to be released before the last day of March 2020.

“The Zimbabwe Stock Exchange’s decision is motivated by its concern for its stakeholders and an initiative to play its role in ensuring the minimisation of the chances of possible spread of COVID-19.

“Issuers who can meet the statutory deadlines, despite foregoing, are encouraged to comply as usual,” ZSE chief executive said.

President Mnangagwa declared the virus a national disaster and banned gatherings of more than 50 people as per section 3 of SI 76 of 2020. This therefore translates to the automatic postponement of pending Annual General Meetings if they pull more than 50 people.

ZSE advised all parties that are in doubt of the postponement to make a formal application of postponement to the Registrar of Companies stating the prevailing reasons that have made the AGM not viable.

Mashonaland Holdings announced the postponement of its AGM until further notice, late afternoon today.

Nampak is also set to postpone its AGM this week while ZPI postponed their AGM which was due next week.

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