www.agra.com.na |
The trading
of Agra Limited shares has commenced and according to the latest OTC Market
report, just over 1,2 million shares have been traded for a total of N$1 761
438, averaging a price of N$1,46 per share. The OTC Market of Namibia is an
over the counter market service administered by the Namibian Stock Exchange
(NSX). Agra is the first unlisted public company to be quoted on the OTC
Market. According to Tiaan Bazuin, CEO of the NSX, “We see the OTC Market of
Namibia as a stepping stone for companies to come and list on the NSX Main
Board. The biggest benefit it provides to the shareholders is a form of price
discovery, while the company has to adhere to a lower level of disclosure and
oversight than a listed entity.”
Tiaan Bazuin, CEO of NSX and Peter Kazmaier, CEO of Agra, at the information board of the over the counter market. |
The
conversion of Agra from a co-operative to a public company makes shares
transferable and, other than in the co-operative, persons or organizations who
are not farmers, can now also buy shares in Agra.
A number of
Agra shareholders have collected their share certificates since the road show
to all the Agra branches soon after the conversion, but a large number of the
share certificates still need to be collected from Agra’s head office. Members need to
collect their share certificates in person, showing their original identity
document or driver’s license and required documentation in case of a company or
closed corporation.
In communication to current shareholders, Agra explained the shares trading
procedures, which should occur through the shareholders’ own stockbrokers.
Agra has
grown since its foundation in 1980, to a major role player in agriculture. The
latest annual turnover amounted to N$1,8 billion, resulting In a net profit
after taxation as per Agra’s audited Annual Financial Statements of N$31
million for the 2011/2012 financial year.
Agra is the only business which provides a one-stop shopping experience to the
farming community, by providing all input products necessary for farming, a
full scale livestock marketing and technical service to producers as well as advice
and training via its Professional Services division. Agra is a Namibian company
owned by over 4500 Namibian Shareholders and employs almost 600 Namibians.
“The
conversion to a public company provides an incentive to shareholders to support
the business of Agra, thereby increasing the value of their investment and
shareholders and more involvement will be forthcoming from shareholders as
their investment increases,” said Peter Kazmaier, CEO of Agra. “Agra Limited
under its new dispensation will continue to be part of and play an important
role in the agricultural and other sectors by contributing towards the
socio-economic quality of life in Namibia; creating conditions for people to
succeed and building successful businesses,” said Kazmaier.
Issued By: Albé Snyman
Officer:
Communications
Agra
(Co-operative) Limited
Tel: (061) 290 9273
Fax: (061) 290 9250
Email: albes@agra.com.na
Well done Agra. It is a success story in Namibian agriculture...
ReplyDeleteThanks for sharing this Taj Mahal blog post, I really enjoy reading this Taj Mahal Day Tour blog comments. This blog post has really given me a great insight into the Taj Mahal and enjoy the Taj Mahal Tour Packages. I have also learned about the importance of the Taj Mahal in India's history. I'm really thankful for this blog post, it has enlightened me on so many aspects of the Taj Mahal.
ReplyDelete