Shumba lists on main Botswana Stock Exchange

Shumba Energy has announced that it has received approval from the Botswana Stock Exchange to migrate its listing from the Venture Capital Market Board to the Main Board of the Botswana Stock Exchange (BSE).

The migration will be effective from 30 October 2017. “This migration represents execution of the second phase of the re-structure of the company’s public investment platform following its de-listing from the SEM (Stock Exchange of Mauritius) removing the negative arbitrage investors experienced,” says Shumba chairman, Alan M Clegg.

Shumba
Image credit: Pixabay

Shumba is focussed on exploitation of energy fuel resources for transformation into base-load power supply and for industrial thermal energy generation. In addition, Shumba has made considerable progress and since its establishment has expanded from being an exploration company to a revenue-generating development company, with mineral ownership rights to 4.5 billion tonnes of thermal coal.

“Shumba remains committed to providing coal and energy to Botswana and its neighbours in the SADC region,” says Mashale Phumaphi, Shumba managing director. Phumaphi adds that the company’s move to the Main Board took place at a good time since the company had managed to establish itself as a major industry player — while continuing to reach its development objectives and moving to revenue generation.

“Our goal is to present the company to a broader and deeper investment audience and remove all impediments to improving its visibility as we work toward our goal improving the stock liquidity and tradability in shareholders’ interest. The migration on the BSE will establish a stronger platform for potential future fund raisings of development capital to achieve the company’s growth plans as well as enhancing the investment profile of the company,” concludes Clegg.


 

 

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