Tanganda to set date for crucial VFEX vote

TANGANDA Tea Company is set to issue dates for an extraordinary general meeting of shareholders to consider and approve the proposed listing of a new class of shares on the Victoria Falls Stock Exchange and issuance of a rights offer to raise US$8 million.
The Zimbabwe Stock Exchange (ZSE)-listed group initially wanted to migrate to the VFEX last year before revising strategy to propose the creation of a new class of shares to be known as Class A ordinary share that would be listed on the foreign currency-quoted bourse instead.
In a statement this week, the agro-industrial concern said it was “finalising preparation of a circular to shareholders.”
“The circular will contain details of the following interrelated transactions and will also include a notice to convene an EGM of members to consider and approve the transaction,” the group said.