Shumba Energy Ltd (“Shumba” or the “Company”) (BSE: SHUMBA), a Botswana-based energy development
company, is pleased to announced that it has received approval from the Botswana Stock Exchange to
migrate its listing from the Venture Capital Market Board to the Main Board of the Botswana Stock Exchange
effective 30th October 2017.
Shumba is focussed on exploitation of energy fuel resources for transformation into base-load power supply
and for industrial thermal energy generation. Further, Shumba has made considerable progress and since
its establishment has expanded from being an exploration Company to a revenue-generating development
company, with mineral ownership rights to 4.5 billion tonnes of thermal coal.
Managing Director of Shumba, Mashale Phumaphi commented “Shumba remains committed to providing
coal and energy to Botswana and its neighbours in the SADC region.
The Company’s move to the Main Board takes place at an advantageous time with Shumba having cemented itself as a major industry player while continuing to reach its development objectives and moving to revenue generation.”
Chairman of Shumba, Alan M. Clegg added “This migration represents execution of the second phase of the
re-structure of the Company’s public investment platform following its de-listing from the SEM (Stock
Exchange of Mauritius) removing the negative arbitrage investors experienced.
Our goal is to present the company to a broader and deeper investment audience and remove all impediments to improving its visibility as we work toward our goal improving the stock liquidity and tradability in shareholders’ interest. The migration on the BSE will establish a stronger platform for potential future fund raisings of development capital to achieve the Company’s growth plans as well as enhancing the investment profile of the Company.”