Barloworld is set to delist from the Namibian Stock Exchange (NSX) after its board applied for approval in favour of maintaining a sole primary listing on the Johannesburg Stock Exchange (JSE).
Barloworld will de-list from the NSX after market close on Monday, 28 February 2022.
“The Board of Directors (“the Board”) of Barloworld confirms that, following application by the Company, the NSX has granted Barloworld approval to de-list from the Namibian Stock Exchange (“NSX”). On 12 November 2021 the Board resolved to withdraw its secondary listing on the NSX (“the Secondary Listing”) in favour of maintaining a sole primary listing on the Johannesburg Stock Exchange (“JSE”),” the company said in a SENS announcement on Friday.
“The Board would like to convey that the decision was not taken lightly and acknowledges the long and fruitful relationship the Company has enjoyed with the NSX. Following a cost benefit review of the Secondary Listing, the Board concluded that the benefits do not outweigh the costs. Consequently, the Board has approved the proposal to de-list Barloworld securities from the NSX.”
The salient dates for the delisting of Barloworld shares from the NSX are as follows:
Last day to trade: Monday, 28 February 2022
Listing suspended in Namibia from commencement of business: Tuesday, 1 March 2022
Barloworld is an industrial processing, distribution, and services company, well known for the distribution of earthmoving equipment with operations in 16 countries.
