NATIONAL Foods has announced its decision to delist from the Victoria Falls Stock Exchange.
The decision comes as the company recognises its current financial landscape, where the need for capital from public equity markets has diminished.
With 75,18 percent of its shares held by just two major shareholders, the group says the influence of smaller retail investors has been limited.
The proposed delisting, to be decided at an extraordinary meeting on December 18, 2024, will be accompanied by a share repurchase offer of up to a maximum of 13,647,198 ordinary shares in issue, constituting 20 percent of the company’s issued ordinary shares.