The FSB (Financial Services Board) has confirmed that MTN Zakhele’s temporary exemption will expire on the 31st of March 2015. Shareholders have been advised to exercise caution in dealing with the shares.
MTN Zakhele was granted temporary exemption by the Financial Services Board before starting its platform in November last year. The FSB gave MTN Zakhele permission to operate using a call centre and an online OTC trading system. MTN Zakhele has over 100,000 shareholders and caters to an active BEE share trading environment. This temporary status … Read more
*By Riaz Gardee The recent FSB directives requiring trading platforms to apply for exchange licences have caused disarray amongst the over-the-counter BEE market. Trading volumes have plunged up to 30% since the FSB directive and Thembeka Capital has even ceased all trade since 31st July. BEE shareholders in these OTC counters have reason to panic … Read more
By Riaz Gardee* The Government Employees Pension Fund (PIC) and BEE shareholders are amongst the largest losers in the recent collapse of micro-lender African Bank. The PIC has a beneficial shareholding of 15.3% and Abil’s BEE shareholders hold c. 5% through its empowerment vehicles Eyomhlaba and Hlumisa. This beneficial ownership of over 20% and the … Read more
The Financial Services Board has set the cat among OTC pigeons with its recent directive that those operating a marketplace for trading in pretty much any securities whatsoever will have to register by early next year – or cease trading. This has significant implications for over three quarter of a million owners of BEE shares … Read more
Last week, senior investigator at the Financial Services Board, Erris van Kerken, told us all existing OTC market operators are trading illegally. That came as a surprise to Anthony Wilmot, founder of the country’s leading OTC platform Equity Express, so he accepted out invitation to visit the Biznews studio to provide some background. With more … Read more
Broad-based black economic empowerment share schemes have dominated headlines over the last few years as companies have sought to find a formula that will allow them to increase black shareholders at a reasonable cost. Typically, BEE share schemes are highly leveraged plays on an underlying stake in the empowering company that use dividend flows to … Read more
Two way trade on the Equity Express OTC trading platform continues to gather momentum. The Multichoice Phutuma Nathi share schemes recorded 64 trades today with over R1.5m worth of stock changing hands.  The Scheme 2 shares are currently trading at a small premium to the Scheme 1 option. Imperial’s Ukhamba Holdings and Vodacom’s Yebo Yethu … Read more
Those who travel along Corlett Drive in Johannesburg will have noticed long queues snaking up the block from the Equity Express Walk-In Centre. It was created to assist new shareholders, specifically those participating in the dozen BEE share schemes that the company manages for a range of clients. A strict registration process is required to … Read more
By Alec Hogg In 1998, when the late Imperial Holdings CEO Bill Lynch used R15m of the group’s money to establish the Ukhamba Trust, he was probably following his own credo of “Just do it.” Fifteen years on, the magic has happened. By any measure, Ukhamba is one of the most successful Black Economic Empowerment schemes. … Read more