Imbalie Beauty considers delisting from JSE to get R6 million loan

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A general view of Johannesburg Stock Exchange (JSE) precinct. 
Photo: Gallo Images/Sydney Seshibedi
A general view of Johannesburg Stock Exchange (JSE) precinct. Photo: Gallo Images/Sydney Seshibedi

JSE-listed Imbalie Beauty, the owner of Dream Nails Beauty Salons, is considering delisting from the JSE due to a condition set out in a proposed loan agreement.

Battered by the economic impact of the Covid-19 lockdown restrictions, the beauty company sought out a Covid-19 loan from Absa of R6 million, the group said in a statement to shareholders on Monday.

One of the major conditions of the loan is that Imbalie, whose share price crashed to only 2 cents a share in late 2019, delists from the JSE.

"The company is currently considering the various options to effect the de-listing," it said. 

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