ZECO seeks refocus ratification

THE directors of Zeco Holdings (ZECO) will this month convene an extraordinary general meeting to ratify the change of its strategic focus from a rolling stock company to a residential and commercial property investment and development company.
The meeting will be held on August 17.
Shares in the company were temporarily suspended from trading on the Zimbabwe Stock Exchange (ZSE) in February, after it implemented the restructure without shareholder approval, a contravention of listing rules.

ZECO shares only resumed trading after the local bourse was satisfied that the company had taken steps to “purge its regulatory violations”.
At the time of its initial public offering in 2008, the company’s primary business involved the assembly and refurbishment of locomotives and rolling