30/11/2024
: Pakashatuuuuur. The board of directors of Choppies Enterprises Limited has issued a cautionary announcement regarding a potential sale of its Zimbabwean operations.
This announcement, in compliance with the Botswana Stock Exchange (BSE) Listings Requirements, informs shareholders of discussions that could materially affect the company’s market activity and share price.
Choppies, a prominent grocery retailer with 30 stores in Zimbabwe, is considering selling its business operations in the country. The potential sale, which is still subject to certain conditions and regulatory approval, aligns with Choppies’ strategic focus on profitable retail operations.
Over the past two years, Zimbabwe’s retail landscape has shifted significantly towards the informal sector, resulting in a 30% reduction in footfall for formal retailers like Choppies.
Despite the company’s belief in Zimbabwe’s long-term viability, the need for substantial capital to sustain operations has prompted this strategic move.
The board emphasizes that there is no certainty that the discussions will lead to a formal transaction. Approval from the Zimbabwean Competition and Tariff Commission is required before any sale can proceed.
Shareholders are advised to exercise caution when trading Choppies shares until further announcements are made. less
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zimcelebs_official : Pakashatuuuuur. The board of directors of Choppies Enterprises Limited has issued a cautionary announcement regarding a potential sale of its Zimbabwean operations.
This announcement, in compliance with the Botswana Stock Exchange (BSE) Listings Requirements, informs shareholders of discussions that could materially affect the company’s market activity and share price.
Choppies, a prominent grocery retailer with 30 stores in Zimbabwe, is considering selling its b