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Bridging Investment Gap in Somaliland
|Somaliland: Pontus Marine Extends Public Share Issue Deadline|
|Tuesday, 22 October 2013 23:36|
By: Amal Abdala
Somalilandsun - Somaliland investor in the fishery sector Pontus, marine has put its prepositions forward to Somaliland's nationals at large.
in a press statement to journalist the managing director Pontus marine LTD UK Mr. Ahmed Abokor A. Mohamud said that the company is in the planning stage of starting of phase one of the fishery project which the company is to apply for licenses and permits from the government of Somaliland , Ethiopia and Uk is in a completion stage.
"we are also preparing the company's structure of organization following laws of the countries we are investing in secondly we are going to start the second phase of promoting and mobilizing of the company's investment to the community by showing people how to invest in the company" Said the Pontus Marine MD
Adding that the company at the moment has investment in UK where it operates from the city of London Birmingham Sheffield and Bristol.
Said he, "In Somaliland our operation is will be based Buroa, Berbera Hargeisa and Erigavo, in Denmark our company has an office in Copenhagen, Norway at the city of Oslo .we are also going to expand our operations to Sweden in Stockholm and Finland by November 2013 and by mid November .we are opening our wings to the middle east where our operations start in UAE Qatar, Saudi Arabia and Kuwait"
On plans to have an inclusive somaliland citizens shareholding base Mr Abokor informed that the Pontus marine public share launch for residents of Awdal Region shall be held in Borama town on the 20th October 2013 thence afterwards to commence a broad based nationwide promotion and advertisement in all Somalia speaking channels and websites .
Pontus marine company has also extended the expired of the deadline of investors who want to put their money in the company from 31st Oct to 31st Dec 2013 due to public interest not only inside the country but from those in Sweden, Denmark and Norway as well
As for ongoing developments the Pontus marine MD Mohamed yusuf Abokor said that the company's other phases that were supposed to commence in Novemeber have been postponed due to the exctended deadline for public shasres issue that has been occasioned by increasing demand from prospective investors.
"Meanwhile We are in the process of availing and ascertaining all current investors who have bought shares in the company have share certificates while also enhancing our local somaliland base of operations by procuring new office equipment and rental of offices which shall be done through a competitive public tendering process" Said Abokor in conclusion