Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
FAST-TRACK LISTING PROCESS p10:
The Requirements were amended effective 30 September 2014 to introduce a fast-track listing process.
The fast-track listing process allows international companies, who have already been admitted to certain other major stock exchanges for a period of at least 18 months, to place a secondary listing on ALTX or the JSE’s Main Board. The following exchanges are accredited by the JSE for the fast track listing process:
• Australia Stock Exchange;
• London Stock Exchange;
• New York Stock Exchange (NYSE) and NYSE Euronext; and
• Toronto Stock Exchange
Companies listed on the above exchanges and making use of the fast track listing process do not need to produce a prelisting statement and, instead, will only release a prelisting announcement. This announcement contains certain disclosure items pursuant to the Requirements and details of the actual listing on the JSE, which is then read in conjunction with the company’s latest published information (including its annual report) which has been prepared in accordance with the requirements of the exchange where it has a primary listing.
The fast track listing process seeks to significantly reduce the time it takes to attain a secondary listing on the JSE. Refer to section 18 of the Requirements for further details on the fast-track listing process
Apologies for the incoherent posting style.
FAST-TRACK LISTING PROCESS p10:
Companies listed on the above exchanges and making use of the fast track listing process do not need to produce a prelisting statement and, instead, will only release a prelisting announcement. This announcement contains certain disclosure items pursuant to the Requirements and details of the actual listing on the JSE, which is then read in conjunction with the company’s latest published information (including its annual report) which has been prepared in accordance with the requirements of the exchange where it has a primary listing.
The fast track listing process seeks to significantly reduce the time it takes to attain a secondary listing on the JSE. Refer to section 18 of the Requirements for further details on the fast-track listing process
apologies if already discussed.
I followed what I could of the conversations yesterday on this.
Most recent recall @fatbanker research on the specific contacts listed for BMO - stating that this points potentially to equity action.
I have read through the JSE listing requirements document :https://tinyurl.com/yabrqg8p
..and found the following interesting:
Under listing process:
APPOINT ADVISORS p4:
- "It is advisable for the company to also appoint a corporate advisor. (Corporate advisors are usually
the corporate finance divisions of stockbrokers, merchant banks or auditing firms. There is often an overlap between the functions of the corporate advisor and the sponsor, and where a merchant bank or stockbroker provides both corporate financial and sponsor services, the roles are frequently combined). The corporate advisor's main responsibilities include:"
LISTING TIME FRAME p6:
"9 to 13 weeks"
..after appointment of advisors...
MAIN BOARD REQUIREMENTS p8:
" a satisfactory audited profit history for the preceding three financial years, the last of which reported an
audited profit of at least R15 000 000 before taxation and after taking account of the headline earnings adjustment on a pre tax basis "
...to my knowledge the latest audited year end results were for 10 months ended 31 December 2017: https://tinyurl.com/ycu7lq8j
..in which Bushveld Minerals showed a pre tax loss (false indicator it may have been) of £684583 for the period.
This is followed by this point:
"The JSE may list companies which do not strictly comply with the above requirements, but this will only occur in exceptional circumstances. It should be noted that investment entities, mineral companies and property companies that are listed on the Main Board have certain modified criteria for listing. Refer to section 4 of the Requirements for further details on the entry criteria to the Main Board of the JSE."
Now complete speculation:
- process having started with appointment of new broker (advisor)
- working a listing in timing with rushed audited statements early in 2019, earliest possible time this could occur in accordance with JSE listing requirements? Or possibly Bushveld will adhere to the special circumstances rule having sufficient management accounts to fulfil requirements
exactly Alfa - knowing that the government realises the critical state of Eskom and are proactively involved gives me tremendous excitement over the idea of what the future Eskom will look like.
And what role BE will take in that future.
what do you mean Sbuild? That link shows that they are recovering..
A recent intervention by Public Enterprises Minister, Pravin Gordhan shows hope.
He stated in a South African address he stated that cleaning up Eskom will start with the basics - the only concern being the deteriorating infrastructure due to maintenance disrupt during state capture.
A very serious concern, but one being addressed by higher powers than anyone inside Eskom.
MEDIA
Bushveld Minerals Unit Recommences Eskom Battery...
Morning Star
Bushveld Minerals Ltd said Thursday preparatory work for the Eskom battery project has recommenced following electrolyte contamination. https://tinyurl.com/y9seh5ms
Bushveld Minerals eyes vanadium battery market
Financial Times
Surging prices for vanadium, a niche metal used to harden steel, have been a boon for London-listed Bushveld Minerals this year, helping fuel a share price rally amid a broader... https://tinyurl.com/yco54xew
Bushveld Minerals says discussions with potential electrolyte customers ongoing with Bushveld Energy...
Proactive Investors
Mikhail Nikomarov, CEO of Bushveld Energy, commented: "The third quarter of this year and events following immediately afterwards, have proven...” https://tinyurl.com/y7mo95ss
Vanadium batteries the solution to meet growing energy storage demand – Bushveld
Engineering News
Vanadium redox flow batteries (VRFBs) are a front-runner technology for meeting the growing demand in the energy storage sector, says Bushveld Energy CEO Mikhail Nikomarov. https://tinyurl.com/y99rxb9q
Bushveld Minerals pushes ahead with Vametco expansion as vanadium prices rise again
Proactive Investors
Bushveld Minerals PLC (LON:BMN) is to push ahead with the expansion of its Vametco vanadium plant to take advantage of soaring demand for the steel additive. https://tinyurl.com/ybsuhmfx
The Energy Storage 101 webinar:
https://tinyurl.com/y9nmksnu
Bushveld Energy Q3 Operational Update
Bushveld Minerals, the AIM listed, integrated primary vanadium producer with ownership of high grade vanadium assets, is pleased to provide an operational update for its 84%-owned energy subsidiary, Bushveld Energy Limited ("Bushveld Energy"). https://tinyurl.com/y9q36ttl
Bushveld Vanadium Q3 Operational Update
Bushveld Minerals, the AIM listed, integrated primary vanadium producer, with ownership of high grade vanadium assets, is pleased to provide an operational update for the three months to end-September 2018, in respect of its Vanadium platform which consists... https://tinyurl.com/yb9554l4
Lack of Vanadium threatens Global Construction Growth
Analyst Research by Spangel
Bushveld Minerals is an integrated vanadium mining, processing and technology business. Bushveld holds 74% of Vametco with 26% held by a BEE group. Lemur Holdings is a wholly owned subsidiary and is... https://tinyurl.com/y74pl7ut
Q3 update: price strength offsets lower production
Analyst Research by Alternative Resource Capital
Strike-induced downtime at Bushveld’s Vametco operation in South Africa saw quarterly vanadium output fall 15% in Q3 2018, temporarily frustrating efforts to grow annualised run rates following expansion initiatives... https://tinyurl.com/y8bos2f3