AltX listed companies
This is a list of AltX companies. You can click on each name to find out more.
AltX, the alternative exchange, is a division of the JSE Limited. It is a parallel market focused on good quality, small and medium sized high growth companies. AltX provides smaller companies not yet able to list on the JSE Main Board with a clear growth path and access to capital. To be eligible for listing, a company must appoint and retain the services of a registered Designated Advisors - a similar role to the current JSE sponsor but with different responsibilities. They also have to comply with other quality controls such as director education.
AltX has been developed for:
• Entrepreneurs: You run a small or medium business and it’s flying. You need capital to grow. You’ve tried the banking sector with no luck. You’re too small to list…or are you? If your company meets the AltX listing requirements and is committed to high growth and innovation, AltX offers extensive benefits.
• Investors: You’re an investor always on the lookout for exciting and fresh opportunities. You’re searching for alternatives to the top 40 stocks. You want to invest in growing businesse
• Companies can join AltX to:
- issue new shares,
- raise funds,
- widen their investor base and
- have their shares traded on a regulated market.
AltX appeals to a diverse range of companies in all sectors including:
- Young and fast-growing businesses including start ups
- Management buy-outs and buy-ins
- Family-owned businesses
- Black economic empowerment companies
- Junior mining companies
AltX is for investors who understand the nature of the market and are prepared to accept the potential risk and rewards of investing in growing companies. As an investor, AltX will expand your investment horisons with companies that need to comply with the rules and regulations of the JSE and participate in high standards of corporate governance. The listing requirements of AltX place great emphasis on the initial and ongoing disclosure of company information.
AltX is supported by the JSE’s full range of services. These help to provide a well ordered trading environment and include:
- Trading of AltX shares on the same system as the Main Board
- Market surveillance to eliminate irregularities
- Dissemination of company information
- Settlement of AltX securities through STRATE.
This is your chance to invest in South Africa's future corporate giants. Explore your options and alter your expectations with AltX.
How to list on AltX
Once you have decided that a listing is the appropriate mechanism for your company to achieve its objectives, the process is as follows:
- Obtain the services of a registered Designated Advisors (DA)
- The DA performs a due diligence to determine the appropriateness and suitability of your company for a listing.
- The DA advises you on the different methods of listing and provides guidance as to the best method for your company.
- The DA assists you in compiling an application letter and a business plan for submission to the JSE Issuer Services.
- Based on the presentation by your Board of Directors together with your DA to the AltX Advisory Committee, a recommendation will be made to the JSE Issuer Services.
- Once the JSE Issuer Services accepts your application, your DA will assist you in compiling all the documentation as stipulated by the AltX listing requirements and other relevant legislation.
- On successful verification of the content of the documentation, the JSE will provide you with a formal approval letter.
Depending on a number of factors, including the complexity of the method chosen for your listing, this process may take between 8 and 12 weeks. If you are interested in a listing, please contact JSE Business Development. More information is available here.
Directors Induction Programme
Attending a Directors Induction Programme (DIP) is a compulsory education programme for all executive and non-executive directors of AltX companies. Main Board and non-listed company directors are also welcome to attend. It is a collaboration between AltX and the Institute of Directors to ensure that company directors are aware of the latest information related to the JSE Listings Requirements, the principles and practices of Corporate Governance, Companies Act and other relevant topics. The current cost of the course is R9 065 (excl vat).
To register or for enquires please contact Thilomi Govender 011 430 9900.
Directors Induction time table for 2013 (08h00 – 16h30)
- Programme 1: 4, 5, 8, 9 April 2013 – Institute of Directors - JHB
The main role of a designated advisor (DA) is to competently, professionally and impartially advise the applicant company on all its responsibilities during the application process and its responsibilities to maintain its status once listed.
The designated advisor must ensure that:
Approved Designated Advisors
- the company complies fully with the applicable JSE and AltX listings requirements
- all relevant documentation required by the listings requirements has been submitted
- each company brought to the JSE by the DA is suitable for listing
- each pre-listing statement is compliant with the listings requirements and has been completed accurately and fully,
- all directors of each company have the necessary expertise and experience, understand the nature of their responsibilities under the listings requirements, the Companies Act, the SRP Code and GAAP, are aware of the expectation to prepare and publish all information necessary and that directors’ declarations need confirmation and verification;
- all new appointees to the board of directors of the company are fully briefed as to the nature of their responsibilities;
- all directors complete the Directors Induction Programme within two months of their appointment (if newly appointed) or upon confirmation of acceptance on AltX;
- the directors of each company are informed on time of any amendment to the listings requirements or other regulations;
- all periodical financial information announcements are reviewed with the directors prior to publication to check accuracy and full disclosure;
- regular reviews are held of the company’s actual trading performance and financial condition to ensure appropriate disclosure of information to investors;
- at least one of the DAs attends all company board meetings in an advisory capacity.
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