Vox Telecom on Tuesday renewed a cautionary announcement, warning shareholders that it’s still involved in discussions that could affect its share price. The company is strongly rumoured to be planning a delisting from the JSE, where it trades on the AltX alternative exchange.
Vox first published the cautionary notice on 13 September, and renewed it again on 26 October.
The company isn’t saying anything, but market talk is that a delisting and possible management buy-out of minority shareholders is on the cards. Vox management are believed to be unhappy about the performance of the share price, which has been in the doldrums for more than two years.
The share has failed to perk up on investor concerns that the company is heavily exposed to the least-cost routing (LCR) market where arbitrage opportunities are going away as wholesale mobile call termination rates come down. Its subsidiary, Vox Orion, is the country’s largest LCR provider.
If Vox is planning a delisting, it’ll be the second telecommunications company to do so. Last week, AltX-listed TeleMasters announced that it would seek shareholder approval to delist. — Staff reporter, TechCentral