The Botswana and Johannesburg Stock Exchanges have suspended trading of Choppies’ shares pending clarification over the supermarket chain’s failure to release financial results for the year ended 30 June 2018.
Choppies has been recently embroiled in nasty shareholder disputes, which have spilled into the courts in Zimbabwe. In a notice to shareholders, yesterday Choppies listing agents confirmed the suspension.
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Shareholders are advised that the Botswana Stock Exchange (BSE) and Johannesburg Stock Exchange (JSE) has halted trading in the shares of the company with immediate effect. The reason for the halt is in order for the company to provide clarification to the market in respect of the announcement released on Friday, 21 September 2018, with regards to the delay in publication of the financial results for the year ended 30 June 2018. The company will provide the necessary clarification later today (yesterday) as requested.
Choppies Zimbabwe is the Zimbabwean operation of Botswana Stock Exchange-listed supermarket retail chain Choppies. Choppies Zimbabwe is owned by Nanavac Investment (Pvt) Ltd which is itself owned 51% by Siqokoqela Mphoko (son to former Zimbabwe vice president Phelekezela Mphoko) to and 49% the Botswana stock... Read More About Choppies Zimbabwe