MEDIA REPORT ZIMPAPERS BACK ON THE BOURSE; HARARE

UNCLAS HARARE 001596 SIPDIS DEPT FOR AF/PD, AF/S, AF/RA NSC FOR JENDAYI FRAZER LONDON FOR GURNEY PARIS FOR NEARY NAIROBI FOR PFLAUMER E.O. 12958: N/A TAGS: PREL PHUM KPAO ZI SUBJECT: MEDIA REPORT ZIMPAPERS BACK ON THE BOURSE; HARARE The state-controlled Zimbabwe Newspapers Group (Zimpapers) is back on the Zimbabwe Stock Exchange (ZSE),three days after being suspended for flouting the bourse's regulations and Companies Act requirements. The former blue-chip company was suspended on Monday, July 1 after it failed to produce and circulate its audited results to shareholders as stipulated by the stock exchange. However, the suspension was lifted on July 4 after the group managed to release and circulate its belated audited accounts, that posted a staggering Z$106 million loss, to shareholders and the announcement of its annual general meeting, now scheduled for July 25. Zimpapers shares have been trading below 100 cents and last year it was among the strong contenders for the wooden-spoon award on the ZSE. Analysts say "the poor results mirror the negative light" in which its six titles are seen by the public. SULLIVAN