Cassava Smartech share trading suspended by the ZSE

The Zimbabwe Stock Exchange (ZSE) has suspended the trading of Cassava Smartech Zimbabwe shares after the company failed to publish its financial results:

The Zimbabwe Stock Exchange’s (ZSE) statement on the Cassava shares trading suspension is as follows.

NOTICE TO THE INVESTING PUBLIC

TRADING HALT OF CASSAVA SMARTECH ZIMBABWE LIMITED

The Zimbabwe Stock Exchange Limited (ZSE) notifies the investing public that trading in the securities of Cassava Smartech Zimbabwe Limited (CSZL.zw) will be halted with effect from 01 October 2021. The halt in trading of the issuer’s securities has been effected pending the outcome of an application for the suspension of trading in the issuer’s securities which was filed for consideration by the Securities and Exchange Commission of Zimbabwe.

Cassava Smartech Zimbabwe limited failed to publish audited financial statements for the financial year ended 28 February 2021 and remains in default. In terms of section 40 (1) (d) of the Listing Requirements. Statutory instrument 134 of 2019, the ZSE is obliged to suspend an issuer who fails to publish audited financial statements for a period of seven months after the end of a financial year.

Once an application for suspension has been approved by the Securities and Exchange Commission, it can only be lifted when an issuer has published its audited financial statements.
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