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HWANGE COLLIERY COMPANY LIMITED - Update on Suspension of listing on UK Official List and Trading on the London Stock Exchange

Release Date: 14/02/2020 16:26
Code(s): HWA     PDF:  
 
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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
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