Astra Industries Limited (AIL) delisted from the Zimbabwe Stock Exchange (ZSE) on 30 April 2015. AIL remains a public company as “Limited” entity, and its shares are tradable on an OTC system. The major difference with the ZSE trading is that on a OTC system, the share price is not determine by the market but on “Willing- Buyer Willing-Seller” basis by which each Seller and Buyer/Investor agree on the price of the shares.

First Transfer Secretaries (FTS) have been nominated to run the Astra OTC trading desk which will run as follows;

• The price is agreed upon between the parties involved.
• If there is no counterparty as yet, then the willing buyer or seller has to indicate their price and we would then contact them when a counterparty has been identified.
• FTS charges 1% of the value of the shares in question with a minimum charge of $5.
• The applicable taxes are CGT at 5% of proceeds if acquired before dollarization, and 20% on the capital gain (proceeds minus cost of acquiring minus inflationary allowance of 2.5% p.a) if bought after dollarization.

DISCLAIMER
AIL shall not be held liable for the accuracy of information or any omissions from trading its shares on an OTC system. Both the seller and buyer will need carefully scrutinise, verify and / or consult their financial advisors before entering into OTC trading of AIL shares. AIL gives no guarantees regarding any benefits or risks associated with trading AIL shares on the OTC system, nor the legal, tax or accounting effects of any transaction. We accept no responsibility or liability for loss or damage whatsoever suffered or incurred by any other person resulting from trading AIL shares on the OTC system.