Zarclear seeks to delist as shareholding falls below spread requirements
CAPE TOWN - ZARCLEAR Holdings’ board said yesterday it was in the best interests of the company and its shareholders for it to delist from the JSE and A2X.
In November, Zarclear’s public shareholding fell below the minimum spread requirements for companies listed on the JSE’s main board due to the take-up of the general offer to Zarclear shareholders by Legae Peresec Capital.
Zarclear’s board said in a statement yesterday that the decision to delist also took into account the impact the Covid-19 pandemic had had and was anticipated to continue to have on equity capital markets in general, and on small-market-capitalisation companies such as Zarclear for an extended period.
Zarclear is an investment holding company whose operating segments are market infrastructure and regulation technology investments. An offer would be made to shareholders for the delisting.
“Shareholders are advised the company is in advanced stages of procuring a third-party offer to facilitate the proposed delisting. Shareholders would be afforded an opportunity to either monetise their investment in Zarclear shares at a fair price, or to continue to hold shares in Zarclear in an unlisted environment,” a statement said.
The share closed unchanged at R3.65 on the JSE yesterday.