Access Financial Services Listed (ASF)

Moderator:  Mr. Wentworth Graham –Chief Regulatory Officer-JSE

Members of the JSE Board

Members of the Steering Committee

Mr. Don Wehby – Group COO, Grace Kennedy Ltd.

Mr. Marcus James – CEO Access Financial Services Ltd.

Mr. Brian Goldson – Chairman Access Financial Services

Mr. Erwin Angus – Managing Director – Mayberry Investments

Mr. Gary Peart – CEO Mayberry Investments

Members of the Media

Distinguished Ladies & Gentlemen – Good Morning and Welcome

 

 

 

Today marks an important day in the history of the Exchange and Access Financial Services Limited, which is to be the first company to be listed on the JSE Junior Market. The Junior market was launched on April 2, 2009 just over six months ago with the specific objective of establishing this market as the most successful avenue for small and medium sized companies to raise capital and to fulfill the considerable potential that so many of our companies have. Doesn’t it seem appropriate that the first company to access the JSE Junior Market is called Access?  

 

 

Just as a plant takes some time after it is grown before it brings fruit, the same can be said about the period between our launching and our first listing. We are pleased however that the gestation period was only six months, as this indicates that companies, member-dealers and other responsible persons were working assiduously to have this company ready for listing. We want to congratulate all who were involved as we recognize that the successful listing of Access Financial Services demonstrates to other companies that accessing this market is a real possibility. Already we sense real enthusiasm from potential listed companies.

 

 

We must once again congratulate the steering committee that spearheaded the launch of the Junior Market and the chief facilitator, Mr. Don Wehby, senator during the development and implementation period. There is no market without companies; therefore, I wish to commend Access’ team for leading the way.  It was a bold step, which investors rewarded by partaking of 5.49 million shares or 20% of the Company’s 27.45 Million Ordinary Shares, valued at $500M. 

 

 

It is to be expected that this Company will be closely watched by analysts, investors and the market in general to see whether, the Company itself will provide the market with proper disclosure and investors with a reasonably return on investment. The Junior Market and Access are inextricably linked as the “new kids on the block”. The performance of Access Financial Services and the attention to transparency and good governance will pave the way for more Junior Market listings. This responsibility is enormous. Equally, the market will be observing whether the Exchange will provide proper regulatory attention. The Junior Market and the Company will, for some time be on the financial market’s ‘watch- list’.

 

 

The Exchange wishes the Company success and again congratulates them as a market leader. We wish to take this opportunity to encourage other companies to make the Exchange the place of choice for the raising of capital and to seize the enormous benefits that are available in listing on the Junior and Main Markets.

 

 

Once again, we welcome you all to the Exchange and please remember that our doors are always open.

 

 

_________________

Marlene Street Forrest

October 30, 2009