THE Victoria Falls Stock Exchange (VFEX) has suspended trading in miner, Bindura Nickel Corporation Limited (BNC), shares after a reconstruction order was issued against its subsidiary, Trojan Nickel Mine Limited (TNML).
“The Victoria Falls Stock Exchange Limited (VFEX) hereby notifies the investing public of the voluntary suspension from trading in shares of Bindura Nickel Corporation Limited (BNC or the Company) with effect from 06 May 2024 following the placement of its major operating subsidiary, Trojan Nickel Mine Limited, under a Reconstruction Order in terms of the Reconstruction of State-Indebted Insolvent Companies Act (Cap 24:27) (Reconstruction Act),” said head of VFEX markets Robert Mubaiwa in a notice to stakeholders.
According to the VFEX, the suspension is for the duration of the administration period, which was announced last week in the Government Gazette.