Caps Holdings Limited shareholders on Thursday approved the delisting of the pharmaceutical company from the Zimbabwe Stock Exchange (ZSE).
Slightly over 77% of the shareholders voted for the motion to delist the company. It is expected the company will have delisted by September 30 this year.
Chairman Fred Mtandah said they would soon hold discussions with various partners and smaller shareholders before an official delisting date could be confirmed.
He said the delisting would allow the company flexibility in raising finance and restructuring it before it could relist at a later date.
“We know some small shareholders have reservations, but we will talk to our partners so that we can find a common position. It is important that we go along with them,” said Mtanda.
Shareholders voted overwhelmingly for the share consolidation resolution.
The company is expected to reorganise its manufacturing, retail, distribution and hospital units before listing them individually in future.
Apart from drug manufacturing, Caps is also involved in retail through QV Pharmacies which has branches in Mozambique.
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The company owns Geddes Limited, St Anne’s Hospital, CAPS South Africa and QV Pharmacies Limited.
