The Listing Requirements of the Botswana Stock Exchange (“BSE”) require Shumba Energy Ltd (“Shumba” or the “Group”) to announce, through the BSE and the press, any circumstances or events that have, or are likely to have, a material bearing related to the financial results of the Group for the next reporting period.
Accordingly, the shareholders of Shumba are advised that the Group expects to release unaudited results for the 9 months ended 31 March 2017 which will reflect significantly improved financial performance compared to that reported in the corresponding period ended 31 March 2016. This is mainly attributable to unrealised exchange gains resulting from strength in the Botswana Pula against the Group’s reporting currency of United States Dollars.
The information in this trading statement has not been reviewed by Shumba’s independent auditors.
By order of the Board
International Financial Services Limited
10 May 2017
This Communiqué is issued, in compliance with the Botswana Stock Exchange listing rules and pursuant to Section 87 of the Securities Act 2005, Rule 5 of the Securities (Disclosure Obligation of Reporting Issuers) Rules 2007 and DEM Rule 21.
The Board of Directors of the Company accepts full responsibility for the accuracy of the information contained in this Communiqué.