The Zimbabwe Stock Exchange (ZSE) has suspended Falcon Gold Zimbabwe (Falgold)’s shares following a delay in the publication of its financial results for the year to September 30, 2019.
According to the ZSE chief executive officer, Justin Bgoni, the country’s capital markets regulator, the Securities and Exchange Commission, has given the local bourse the greenlight to suspend Falgold shares.
“The ZSE hereby notifies the investing public of the voluntary suspension from trading in shares of Falcon Gold Zimbabwe Limited with effect from March 2, 2020 pending publication of audited financial results for the year ended September 30, 2019, and a circular to shareholders regarding the proposed termination of listing,” Bgoni said.
“At company’s request, the ZSE sought and was granted permission to suspend trading in Falcon Gold Zimbabwe Limited’s shares by the Securities and Exchange Commission of Zimbabwe pursuant to the provisions of Section 64 (1) (a) (ii) of the Securities and Exchange Act (Cap 24:25).
In terms of Section 9 of the ZSE Listing Requirements, the company should continue to discharge its obligations to the shareholders and the ZSE during the suspension until finalisation of the termination of listing.