ZSE extends reporting deadline

Business Top Stories Zimbabwe

Ndaka Majaka

THE Zimbabwe Stock Exchange (ZSE) has given counters whose reporting periods were due, a 30 day moratorium to release earnings in light of the coronavirus pandemic.

ZSE chief executive Justin Bgoni said the global outbreak, now classified as a global pandemic by the World Health Organisation, had necessitated the measure allowing firms flexibility to adapt and report via live stream and other methods.

The bourse’s listing requirements state that firms whose year end was December 2019 were expected to report their earnings by end of March.

Additionally, companies with a June year end were also anticipated to release their interim results before March lapsed.

However, this has not been possible in most instances with firms downscaling operations and asking workers to self-isolate and work from home to avoid transmitting the deadly virus that has already claimed a life in Zimbabwe.

The grace period has also been extended to companies that were due for Annual General Meetings.