Between a rock and a hard place :: Mmegi Online

Since its listing on the Botswana Stock Exchange in June 2006 amidst giddy optimism, CIC Energy's shareholders have persevered through a rollercoaster of setbacks and breakthroughs, galvanised only by the intrinsic value of the massive coal resource their company is developing at Mmamabula. With a new offer to exit on the table, Staff Writer, MBONGENI MGUNI, traces the journey thus far for the battle-weary shareholders

On Monday, August 27, 2012, shareholders of Canadian firm, CIC Energy will gather on the third floor of an office building in the picturesque Mauritian financial hub of Port Louis. But the men and women walking into the Jamalacs Building will not be there to admire the populous city's stunning coastline.

Six years, two months and 22 days since the company dual-listed on the Botswana Stock Exchange (BSE), its local shareholders and their Toronto Stock Exchange counterparts will consider whether or not to accept a two Canadian Dollar (P15.60) per share offer for their shares from Indian energy firm, Jindal Steel and Power.

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