CMSA has approved the request by Maendeleo Bank Plc to raise Tshs 10.567 billion by issuing 17,612,417 ordinary shares to the public at Tshs 600 each.

Each Collecting Agent’s fee shall be 2% of the value of allotted shares subscribed for through the Collecting Agent. Service Level Agreement to that effect will be circulated for your signatures in due course.

 

Offer opens: 18th Sept, 2017

Offer closes: 3rd Nov, 2017

Expected listing date: 5th Dec, 2017

 

Application Forms and Prospectus will be available for collection from Arch Financial & Investment Advisory Ltd at their offices at NIC Life House, Wing C, 2nd Floor.

Kindly acknowledge receipt of this email.

Regards

 

IYEN J.A. NSEMWA

MANAGING DIRECTOR

 

ARCH FINANCIAL & INVESTMENT ADVISORY LIMITED

http://archfia.or.tz/home.php

CHAIRMAN'S STATEMENT

Tanzania Portland Cement Company (TPCC) recorded revenue of TZS 119bn in the first half of 2017. This is  a decrease of 16% compared with the same period in 2016. The decrease in revenue is mainly because of the lower price as a result of increased competition in the market.

Management continues to exercise strict costs control which are represented by decrease in cost of sales of 7% and selling and administrative expenses by 14%.

TPCC continues to defend its market leadership through strong customer relations.

 

PROSPECTS

The market situation remains challenging but TPCC will continue to work to maintain its market leadership position.

 

DIVIDEND

Despite drops in result the directors declare an interim dividend of TZS 120 per share (2016:TZS 120 per share) which will be paid on or about 31 October 2017.

 

The register of the Members will close on 25 September 2017. The lst day of trading cum dividend will be 20 September 2017.

 

Source: Daily News 31 August 2017

Dar es Salaam. The silence that engulfed Vodacom's initial public offering (IPO) results has finally come to an end after the mobile phone operator confirmed the extension.

This follows the government's decisioin to allow foreign investors to participate.The IPO was extended for three weeks starting yesterday.

"The IPO has been extended for three more weeks between July 10 and July 28, so potential investors will be able to purchase shares at the same amount Sh850 per share. Announvement for results of offer will be on August 7 and listing and trading of shares at the Dar es Salaam Stock Exchange will commence on August 15", the company said.

The timetable was also available on the Vodacom website.

The company returned to the market after the government amended the Electronic and Postal Communications Act (Epoca) 2010 through the Finance Act 2017, which allows the foreign investors to take part in the local IPOs.

The Law requires telecommunication firms to offload 25% of their stake through the IPOs, but the foreign investors were not allowed in order to enhance local participation in the industry.

 

Source:THE CITIZEN Tuesday 11 July 2017

TREASURY BONDS ISSUANCE CALENDAR FOR THE FOURTH QUARTER (APRIL - JUNE 2017)

AUCTION DATE

BOND TENURE

COUPON RATE

2 August 2017

7 YEARS

10.08%

16 August 2017

10 YEARS

11.44%

30 August 2017

5 YEARS

9.18%

13 September 2017

15 YEARS

13.50%

27 September 2017

2 YEARS

7.82%

11 October 2017

7 YEARS

10.08%

25 October 2017

10 YEARS

11.44%

08 November 2017

5 YEARS

9.18%

22 November 2017

15 YEARS

13.50%

06 December 2017

2 YEARS

7.82%

20 December 2017

7 YEARS

10.08%

 

 

TANZANIA’S APPROVAL OF NEW NATURAL RESOURCES BILLS

Swala Oil & Gas (Tanzania) PLC (“Swala” or the “Company”) notes the approval by the Tanzanian Parliament of three bills particularly relating to mining companies in Tanzania.

The three bills (the Natural Wealth and Resources (Permanent Sovereignty) Bill 2017, the Natural Wealth and Resources Contracts (Review and Re-Negotiation of Unconscionable Terms) Bill 2017, and the Written Laws (Miscellaneous Amendments) Act 2017) primarily seek to address “Unconscionable Terms” in existing agreements in the Natural Resources Sector and predominantly in the mining sector. These “Unconscionable Terms” are those that are considered contrary to good conscience or whose implementation would unreasonably disadvantage the interests of the People and the United Republic of Tanzania. They relate primarily to historical contracts entered before the implementation of the current fiscal regime or where incentives were granted to encourage that activity. The bills also include matters, such as local content investment, integrity pledges and anti-pollution measures, that oil and gas companies are already subject to by operation of the Petroleum Act 2015.

Swala operates the Kilosa-Kilombero licence in Tanzania, a licence awarded under the 2008 Model PSA. None of Swala’s current or planned asset or corporate operations involve agreements outside the scope of the fiscal framework or any that might constitute “Unconscionable Terms”. The Board therefore sees little direct risk to its operations because of this legislation at this time.

Dr. David Mestres Ridge (Swala CEO) said: “Whilst we understand that the process primarily affects the mining sector, some of the provisions of the legislation extend to the oil and gas sector, a sector that is crucial to the country’s stated desire to become a middle-income country and to the success of the 2016/17-2020/21 National Five-Year Development Plan. In passing these bills, Parliament and the Government of Tanzania have expressed a desire to review the terms of mining contracts that may have been necessary at the time but which now may strike observers as ‘unconscionable’, a review that we trust shall be balanced by the need to provide contractual and investment stability to the rest of the natural resources sector.”

 

For further information please contact:

 

Swala Oil & Gas (Tanzania) plc

Dr. David Mestres Ridge (CEO)

This email address is being protected from spambots. You need JavaScript enabled to view it.

www.swala-energy.co.tz

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