The NewPlat Securities will finally be introduced on the Botswana Stock Exchange (BSE), following months of behind the scenes midnight oil burning that culminated with approval of listing of the platinum backed debenture on the local bourse.
NewGold Issuer (RF) Limited said the BSE’s Listings and Trading Committee has approved the listing of 400,000 platinum securities (the “NewPlat Securities”) of NewGold on the Official Market of the BSE by way of an Introduction. The BSE code for the platinum securities will be NGPT.
“The date of admission to listing of the NewPlat Securities on the Official Market of the BSE has been scheduled for the 29th August 2014,” said NewGold. “The price of each NewPlat Security will be equal to the equivalent price of spot platinum price multiplied by the US$/BWP exchange rate (each NewPlat Security is equivalent to approximately 1/100 ounce of platinum).”
NewPlat Securities were listed on the Johannesburg Stock Exchange with effect from 26th April 2013 and secondary listed with the Stock Exchange of Mauritius on 28 February 2014. NewGold conducts the business of establishing and operating exchange traded funds listed on the exchange operated by the JSE, the BSE and one or more secondary or dual listings on such other exchanges as NewGold may select from time to time, in relation to the securities issued by it, the value of which tracks the price of gold, platinum or any other commodity.
NewPlat Securities are designed to track the price of platinum, and create an investment tool that enables institutional and retail investors to invest in a listed security that is fully backed by platinum.
NewGold said from the 26th August 2014, copies of the prospectus (which includes the supplemental prospectus) of NewGold will be made available for inspection during normal office hours (from 8.00 hours to 17.00 hours), at the office of the executing broker, Motswedi Securities Pty (Ltd), which is situated at Plot 113, Unit 30 Kgale Mews, Gaborone, Botswana.