Dear Friend,
Companies listed on the Stock Exchange of Mauritius under the Listing Rules and DEM Rules are usually required to appoint professionals such as Independent Professional Experts (IPE) for the certification of valuation reports on Related Party Transactions and Independent Financial Advisors (IFA) for the certification of Business Plans at time of application for listing.
The certified business plan demonstrates the sustained viability of the Company while the certification by an IPE of the valuation report with regards to a Related Party Transaction provides comfort that the transaction is fair and reasonable.
With a view to upgrade the standards of reports/documents certified or prepared by the above professionals and in line with the practices adopted by some other recognised securities exchanges, the SEM has set up an accreditation process. The SEM has introduced Appendix 9 in the Listing Rules for the Official Market and Schedule Eleven in the DEM Rules for the DEM which provides guidance on the accreditation process and the eligibility criteria. Firms, the partners of those firms (partners), corporations, directors of those corporations (directors) and individuals acting on their own behalf (individuals) who wish to act as IPE, IFA and Independent Valuer must be duly accredited by the SEM in accordance with the requirements set out in this Appendix.
A firm, partner, corporation, director or individual who wishes to make an application to be accredited with the SEM and subsequently maintain his/her/its accredited status shall be subject to application and annual fees.
The above amended Rules, which are effective as from 18 November 2015, may be consulted on the following links: DEM Rules - Click here
Should you have any questions on the above, please do not hesitate to get in touch with your usual contact at Intercontinental Trust Ltd.
Thank you.
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