*East Africa’s first public owned Oil and Gas Company*
DAR ES SALAAM, Tanzania,June 9, 2014/ *– *Swala Oil and Gas (Tanzania) Plc
(http://www.swala-energy.co.tz) today announced the launch of its Initial
Public Offer Prospectus (“IPOâ€) of 9,600,000 ordinary shares. The company
will be selling each share at the price of Tanzanian Shillings 500 from
June 9th 2014 to 4th July 2014. This announcement comes a week after the
company received its official approval from the Tanzanian Capital Markets
and Securities Authority (“CMSAâ€), making it the first of such offering in
the Oil and Gas industry in East Africa.
Swala’s CEO David Mestres Ridge said, “We are delighted that today Swala
Oil and Gas Tanzania Plc is officially launching its IPO. This is a great
step not only for Swala but also for Tanzania and its people. Investing in
oil and gas shares is a means for economic diversification for any
individual and it allows interested parties to own a stake in a fast
growing businessâ€.
Mr Ridge further stated, “We are extremely grateful to the Government of
Tanzania, TPDC and the CMSA for allowing us to become East Africa’s first
public owned Oil and Gas Company. On behalf of all Swala directors I would
like to officially invite the public to invest in Swala Oil and Gas Plcâ€.
Hon. Abdullah Mwinyi, a Director at Swala Oil and Gas Tanzania Plc added,
“There has been a great debate on the need for local content in this
booming oil and gas industry; we are delighted that today Swala would
become the first oil and gas company to walk the talk. We strongly believe
that Tanzanians should be given an opportunity to participate in the oil
and gas business; this IPO opening allows them to do just that”.
Application forms and copies of the prospectus will be available online at
Nihisa.com, at the offices of all Licensed Dealing Members (LDM) of the Dar
Es Salaam Stock Exchange (DSE), branches of CRDB Bank Plc and offices of
Arch Financial & Investment Advisory Ltd. The offer is open from 09th June
2014 to 04th July 2014. There is currently no maximum subscription limit,
but a minimum subscription of 100 shares per person is required. Electronic
prospectus can be found on the company
*About Swala Oil and Gas Tanzania Plc*
Swala (http://www.swala-energy.co.tz) is an affiliated company to Swala
Energy Limited, a company in turn listed on the Australian Stock Exchange
(ASX) with ticker “SWEâ€. Swala holds assets in the world-class East African
Rift System with a total net land package in excess of 17,500km2. New
discoveries have been announced by industry participants in a number of
licenses along this trend, including Ngamia and Twigga, which extend the
multi-billion barrel Albert Graben play so successfully developed by Tullow
Oil into the eastern arm of the rift. Swala has an active operational and
business development programme to continue to grow its presence in the
hydrocarbon provinces of East Africa.