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Brewery gears up for Trop-X listing |24 May 2016

 

Shareholders of Seychelles Breweries Limited (SBL) met at the weekend to approve the company’s plans to be listed on Trop-X, Seychelles’ securities exchange.

The extraordinary meeting between SBL and its shareholders took place on Saturday at the Eden Bleu Hotel. It was chaired by the company’s board.

During the meeting shareholders approved the changes made to the Memorandum of Association to be compliant with the company’s act.

“It had to be modified to allow the shareholders to be able to trade,” said SBL chairman Simon Harvey.

All shareholders have to go through the dematerialisation process which will allow him/her to trade though this is not obligatory. It allows shareholders to align themselves to the age of electronics.

Dematerialisation is the process of converting physical share certificates into electronic shares. It is a secure way to trade as it mitigates the risks associated with trading in paper format such as theft, loss, etc. It simplifies the trading process if a shareholder wishes to trade.

However, a shareholder who wants to sell or transfer his/her shares has to go through the dematerialisation process first. It is free but trading bears specific fees.

The company is aiming to be listed on the TropX securities exchange in about six weeks.

Also during the meeting SBL released its new brand of SeyBrew beer, which has been described as “tasty and fresh”, and a new label for its packaging featuring a tortoise as background picture.

“We have to meet two things. Transformation of growth for this business and getting a healthy business that is imbedded in this great nation,” said Nicolas Cook, managing director of SBL.

He believes the company has made two leaps forward that day and what better way to celebrate being the first drink manufacturer to list on Trop-X.

“I am so very excited about that. It actually allows our shareholders to vote in a much more transparent way and monitoring our performance.

“As for the new look and feel of SeyBrew, I think personally it gives us a chance to relaunch the beverage, put it on a different footing and make sure that it is known as the best and freshest tasting beer on the island. And that is something I am passionate about,” he added.

The shareholders were given samples of the ‘revamped’ beer to take away.

 

 

 

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