British tycoon, Nicholas van Hoogstraten is the majority shareholder in CFI
… says 28 ZSE counters in breach of rules
THE war pitting CFI Holdings Limited and the Zimbabwe Stock Exchange (ZSE) has taken a dramatic twist with CFI querying its suspension from the bourse when 28 other counters were in breach of the same rules.
CFI was suspended on January 2 over several allegations including breaches of the bourse’s free float requirements and corporate governance deficiencies related to the appointment of non-substantive directors including the chief executive officer (CEO).
In a letter to ZSE dated February 22 obtained by The Financial Gazette, CFI acting chairperson Itai Pasi queried why the ZSE had not raised these issues when Stalap Investments was in control until November last year.
Read full story in The Financial Gazette paper