Motus B-BBEE-scheme Ukhamba 2 lists on Equity Express

Equity Express media release

Equity Express Securities Exchange (“EESE”) today welcomed its second listing since inception in 2017 with Ukhamba 2, the B-BBEE-Scheme created following the Imperial Holdings Limited’s unbundling of its vehicle dealership division, Motus.

Equity Express Securities Exchange CEO Anthony Wilmot

EESE CEO, Anthony Wilmot, says: “As we approach the first anniversary of our independent exchange we are excited to welcome Motus’ share scheme to our exchange. Since listing the sister Imperial scheme, Ukhamba has performed strongly and we believe that Ukhamba 2 will be equally as successful.” Ukhamba 2 follows the Ukhamba Holdings (Imperial) share scheme that has traded on EESE since 8 December 2017, demonstrating significant growth since listing at R14 per share and peaking at R57,75 in September this year. With a current market capitalisation of R797.1 million, over 392,000 shares have traded since listing, equating to a value of R10.3 million.

As with the Ukhamba share, Ukhamba 2 restricts ownership and trading in its shares. Singular Systems, a division of Singular Systems, acts as the sole broker and verification agent enforcing BEE shareholder restriction and ensuring adherence to the scheme’s  rules. The EESE trading platform allows all qualifying shareholders to trade their shares with ease, providing  issuers with  peace of mind that trading is transparent and secure. All shares in Ukhamba 2 settle in a prefunded market on a T+0 basis.

The Ukhamba 2 listing will be followed by another three listings tomorrow namely Phuthuma Nathi Investments Limited, Phuthuma Nathi Investments 2 Limited and Welkom Yizani Investments, the B-BBEE schemes of Multichoice and Media24, respectively.

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