Business / Companies
Econet Wireless risks ZSE sanctions
03 Feb 2017 at 09:48hrs | Views
Econet Wireless Zimbabwe risks sanctions from the Zimbabwe Stock Exchange (ZSE), after defying the bourse's instruction not to proceed with today's extraordinary general meeting of shareholders meant to approve the raising of $130 million to pay foreign obligations.
On Wednesday, ZSE advised Econet to postpone the meeting to a later date "until certain technical issues relating to the rights issue transaction have been clarified to the satisfaction of the ZSE board".
But a defiant Econet yesterday said the meeting would go ahead, as the ZSE board had no powers to stop the indaba.
It advised shareholders to submit their proxies and attend the meeting.
On Wednesday, ZSE advised Econet to postpone the meeting to a later date "until certain technical issues relating to the rights issue transaction have been clarified to the satisfaction of the ZSE board".
It advised shareholders to submit their proxies and attend the meeting.
Source - Newsday
