LONDON: Pan African announced that it’s American Depository Receipt (ADR) programme has been upgraded and approved to trade on the OTCQX Best Market (“OTCQX Market”) in the United States of America (US), with effect from 23 October 2020.
Pan African’s CEO, Cobus Loots said: “We are pleased to be admitted to the OTCQX Market, which is the highest tier of the OTC market. To qualify, Pan African has complied with the OTCQX Market requirements including high financial standards, corporate governance requirements, and compliance with applicable securities laws. Trading on the OTCQX Market will significantly enhance our visibility and provide better access to US investors”.
The Company was sponsored for OTCQX trade by MCAP LLC, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership.
Pan African is upgrading to the OTCQX Market from the Pink Over-the-Counter market and the ticker symbol (PAFRY) remains unchanged.
The OTCQX Market is the premier tier of the US Over-the-Counter market that is operated by OTC Markets Group Inc. (OTCQX:OTCM). OTCQX is a trading market designed for established, investor-focused US and international companies.