Johannesburg, 11 Apr 2012
JSE-listed TeleMasters has withdrawn its plans to leave the bourse, it said in a statement issued this afternoon.
“The board of directors has resolved to not pursue the delisting of the company from the JSE at this point in time,” it states.
No reasons for the decision were provided in the short statement to shareholders. CEO Mario Pretorius was not immediately available to comment.
TeleMasters has been listed on the JSE's Alternative Exchange since March 2007. It operates throughout SA, with offices in Gauteng, KwaZulu-Natal and the Western Cape.
The company wanted to leave the bourse, because it doesn't need to raise capital and its shares are thinly traded.
TeleMasters expected to delist from the Johannesburg bourse by around the middle of the year, if shareholders voted in favour of the move. The company has been in the process of delisting since December 2010.
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