Sappi Limited has decided to upgrade its presence for North American investors by joining the OTCQX trading platform.
Commenting on the decision Sappi Chief Executive Officer, Steve Binnie said: “It is our stated intention to diversify our shareholder base outside of South Africa. This move will provide more visibility and assurance to North American based investors interested in a renewable resource and bio-based company with strong domestic US manufacturing and customers alongside broad global coverage.”
Sappi’s current shareholder split is around 70% South African and 30% non-South African.
For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the United States. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
Sappi Limited begins trading today on OTCQX under the symbol “SPPJY. Relevant information can be found at www.otcmarkets.com.
ENDS
For more information on current annual reports and Sappi as a group, please see the links below:
http://sappi-ir-reports.co.za/online-reports/air-2024/index.php
https://www.sappi.com/files/2024-sappi-group-sustainability-reportpdf
https://www.sappi.com/
Issued by
Brunswick
on behalf of Sappi Limited
Tel + 27 (0) 11 502 7300
For further information
André F Oberholzer
Group Head Corporate Affairs
Sappi Limited
Tel +27 (0)11 407 8044
Mobile +27 (0)83 235 2973
[email protected]
Tracy Wessels
Group Head Investor Relations and Sustainability
Sappi Limited
Tel +27 (0)11 407 8391
Mobile +27 (0)83 666 6589
[email protected]