Rules and Regulations

CENTRAL SECURITIES DEPOSITORY COMPANY OF BOTSWANA LTD

The Central Securities Depository Company of Botswana Ltd (CSDB) is incorporated as a public company under the Companies Act Cap: 42.01 as amended by Act No. 32 of 2004 and operates as a central depository to the Botswana Stock Exchange (BSE). Clearing and settlement of transactions carried out on the BSE takes place through the CSDB which facilitates the scripless clearance of securities. Prior to trading in securities on the BSE, a holder of securities is required to open a securities account with the CSDB through a Participant, and deposit/lodge securities in such account through the Nominated Transfer Secretary (NTS). Upon depositing/lodging securities in the CSDB and converting such securities into electronic form, the account holder shall continue to be registered in the register of the company in respect of the securities so deposited/lodged and shall continue to enjoy all such rights and privileges and be subject to all such duties and obligations as a registered shareholder of those shares would be entitled to, or subject to, under the Companies Act No. 32 of 2004, for as long as he remains the holder of such securities in the company. In the event the securities are sold or transferred the account holder who purchases such securities or is the transferee will be the registered shareholder and be subject to privileges, duties and obligations as a registered shareholder of those securities. The share register of the company would consist of shares recorded/registered in the CSDB in electronic form. CSDB will be regulated under the BSE Act, NBFIRA Act, Securities Act and NCSS Act

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