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840 000 FREE SWAZI MOBILE SHARES TAKEN

23/02/2018 00:42:00 BY KWANELE DHLADHLA

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MBABANE – It is now official. There are 14 000 Swazis who own shares in Swazi Mobile. These Swazis, who qualified for the company’s free share reward programme, have 840 000 shares (60 shares each) set aside if they have submitted all their KYC (Know Your Customer) documents which include proof of residence and Identity Document (ID) among others.

This was disclosed by Chief Executive Officer Jeff Penberton. He said these shareholders would receive their official shareholder certificates soon after the company gets listed on the Swaziland Stock Exchange (SSX).
“Those who are yet to submit their KYC documents have until the end of the month to do so,” warned Penberton.

The CEO also unveiled a task team that has been entrusted with the responsibility to ensure that Swazi Mobile’s stock market floatation is a success. The team comprises of; Swaziland Stock Brokers (Sponsoring Broker), Imbewu Yesive Investments (Pty) Ltd (Financial Advisor), S.V Mdladla (Legal Advisor), Kobla Quashie & Associates (Reporting Accountants), KPMG (Transfer Secretary) and SwaziBank (Payment Receiving).

Penberton explained that the mobile telephony company would be listing 30 per cent of the company’s shares in the SSX in fulfillment of a condition of the licence they were granted by the Swaziland Communications Commission (SCCOM). He pointed out that a significant portion of the proceeds to be raised from the stock market listing would be used to increase network capacity, extend network coverage and improve network resilience to ensure that Swazi Mobile continues to offer Swazis with an effective alternative communications option.

“The task team is working around the clock to ensure that all requirements are met and ready for submission to SSX by the end of March,” said Penberton.
KPMG Managing Partner, Vusi Nkabinde, explained that as transfer secretaries they could be likened to class prefects since they would be managing the company’s records across the board.

“We will also be responsible for preparation of Swazi Mobile’s dividend spreadsheets,” Nkabinde clarified.
Daniel Bediako, from Kobla Quashie & Associates, said as reporting accountants they would see to it that the company’s financial records meet the required reporting standards.