Johannesburg, 15 Jun 2011
Morvest (formerly Simeka Business Group) - one of South Africa's leading black empowered providers of business support services - today announced JSE approval of its move to the JSE Main Board.
The group will transfer to the 'Business Support Services' sector of the Main Board on 20 June 2011.
The strategic initiative will effectively reposition Morvest alongside appropriate peer groups, and realises the fulfilment of a prior strategic undertaking to investors.
CEO Mohammed Varachia says: “We are excited about our imminent transition to the Main Board.
The AltX has served us well as an incubation platform insofar as the listed space is concerned. In light of our recent group development initiatives to cement the foundation for continued growth, the move is an important milestone.
Morvest has a demonstrable track record of consistent growth, supported by strong governance and internal audit processes.
“We are looking forward to the next stage in our development.”
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