Trop-X Closing Prices for week ending 13th October 2017 |18 October 2017

This week saw Trop-X granting a request from Sacos Group Ltd for a voluntary suspension in the trading of the Company’s shares ‘SAC’. The Company had previously announced the market of the delays encountered in finalising their Audited Financials for the year 2016 and as a precautionary measure, the Company decided to opt for a voluntary suspension on Trop-X, effective from October 10, 2017. The company believes it is in the shareholders best interest to suspend trading in its share until the Audited Financials are published, where thereafter the Company will request a lifting of the suspension.

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Twenty-three equity companies are now listed on Trop-X after the Exchange granted a listing to WM Med 8 Limited – an investment holding real-estate company – on Friday October 3, 2017. Prices have remained constant on Trop-X this week except for SBL where trading during the week resulted in a 3.77% price drop from SCR67.50. The Seychelles Rupee is currently trading at 13.71 to the US Dollar, an increase by 0.44% (when compared to last week), 16.16 to the Euro (increase by 1.05%) and 17.96 to the British Pound (decrease by 0.44%). The average interest rates on T-Bills remained unchanged at the end of the week at 3.21% for the 91-day maturity and 4.15% for the 182-day maturity (when compared to last week).

If you are interested in opening a trading account please get in touch with one of our two broker members who can assist you both in English and Creole:

Constant Capital (Seychelles) Ltd - 434 6820/ or email info@constant.sc

PKF Capital Markets (Seychelles) Ltd – 4346770/ or email pkfcapital@pkf.com

Part 4: Who are the players on Trop-X?

As we saw last week, Trop-X has the responsibility under the Securities Act, 2007 to regulate its members and issuers through its Listing Requirements and Market Rules. While the former targets the listed companies on Trop-X, the latter targets the Members of Trop-X.

Members are defined as securities dealers (brokers) that have been admitted on Trop-X wherein Trop-X provides access to the Member to execute a trade on behalf of their clients.  Each client enters into a client agreement with a member and thereafter the client opens a trading account with the securities dealer. The securities dealer facilitates the buying and selling of listed securities on Trop-X between a buyer and a seller. Trop-X has two broker members namely Constant Capital (Seychelles) Ltd and PKF Capital Markets (Seychelles) Ltd.

Next week: What are the benefits of investing in listed securities on Trop-X?