Minority shareholders of Econet Wireless Zimbabwe Limited, both institutional and retail, have voted overwhelmingly to approve the group’s voluntary delisting from the Zimbabwe Stock Exchange (ZSE), with all resolutions receiving more than 95 percent support at an Extraordinary General Meeting held in Harare.
The special resolution to delist and migrate to an Over-the-Counter (OTC) trading platform was approved by 95 percent of minority votes after the majority shareholder recused itself from the vote.
Shareholders also approved the Exit Offer with 96.6 percent support, entitling investors to US$0.50 per share—comprising US$0.17 in cash and US$0.33 through the issuance of one Econet InfraCo ordinary share for each Econet share tendered.
Two additional resolutions, relating to amendments to the Articles of Association and the authority granted to directors to implement the transaction, each received 97.3 percent approval.