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Launch of the Alternative Market Alt-M Taj Pamodzi Hotel 22 nd April, 2015.

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Presentation on theme: "Launch of the Alternative Market Alt-M Taj Pamodzi Hotel 22 nd April, 2015."— Presentation transcript:

1 Launch of the Alternative Market Alt-M Taj Pamodzi Hotel 22 nd April, 2015

2 Background October 2003, Chingola LuSE presentation to IESC/ZCSMBA managed Copperlink Program and KCM Small Business Unit workshop SMEs called for a structure on LuSE which would make access to its capital raising mechanism easier

3 Background cont’d… LuSE estb. Steering Committee: – LuSE(Brian Tembo/Celine Nair) – SEC(Queen Shachile) – ZCSMBA(Maxwell Sichula) – IESC(Nathan DeAssis) – MoCTI(Yvonne Chileshe) – ICC(Juliet Munro) – Wits(Charles Sichangwa) – Meliora(Zoran Zuze) – BDO(William Saunders)

4 Long Consultative Process st consultative workshop Lusaka and Kitwe 2006 ZDA/ZSIC sponsored meetings Lstone & Chipata 2007 Rules developed 2014 PSD supported nationwide sensitization meetings

5 Small <50 employees Annual turnover K200,000 – 1,000,000 Medium Annual turnover K1,000,000 – 20,000,000 >50 employees SME National Definition

6 Some Sources of Funds for Small Business SME Savings Family & Friends BanksGrantsAngels Venture Capital

7 The Missing Link!

8 Coming to Market Company X Plc (Securities registered) Listed Main Alt-M UnlistedQuoted

9 Introducing the LuSE Alternative Market “ LuSE Alt-M is a market for small to medium companies that are in a growth phase and applicants that meet the criteria for listing on the Main Board will not ordinarily be granted a listing…” Alt-M Turnover Employees # Shares HistoryBoard DIP DA

10 Employees & Turnover Employees & Turnover Section 21.3(b) “An applicant issuer shall have a minimum of up to twenty (20) and a maximum of hundred and fifty (150) employees, a minimum trading turnover of K250, 000 and a maximum trading turnover of K20 million.” 10

11 # Shares & Public Spread # Shares & Public Spread Not less than 500,000 equity shares in issue. The public must hold a minimum of 10% of each class of equity securities and the number of public shareholders shall be at least 30 Excludes DA held shares

12 History/Projections Show operation at least 5yrs and/or Increased revenues and market share for 3 successive years and/or Submit audited financials of the Preceding financial year end and/or Produce a profit forecast for remainder of fin. Yr and 1yr after and/or Submit a business plan for the next 5 yrs of its operations

13 Board Minimum of 5 board directors Majority being non-family members Chairman and Chief Executive shall be separated after 5yrs following the issuer’s listing

14 Disclosure Alt-MAlt-M listed companies will be required to publish announcements via the Central Information Disclosure System (CIDS) CIDS is a web-based information system It’s a minimum requirement and Co.s encouraged to voluntarily publish in the press

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