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Telemasters to delist, shares plunge

Johannesburg - Shares of Telemasters Holdings [JSE:TLM] drop 7.7% to 140 cents as the small-cap South African telecom says it plans to seek investor approval to delist from the Johannesburg bourse.

Telemasters, which is 85% controlled by CEO Mario Pretorius, says it does not expect to raise capital during the next couple of years and, as a result, "the benefits of listing are out of proportion to the management time and expense".
 
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Rand - Dollar
19.09
-1.0%
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24.06
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