Maple Begins Trading Shares on Lima Stock Exchange
Maple Energy announces the admission to trading of the Company's ordinary shares (the "Shares") on the Lima Stock Exchange (the "Lima SE"), Peru, effective December 21, 2007 under the trading symbol "MPLE" (the "Admission"). Credibolsa SAB, Peru´s leading brokerage firm and subsidiary of Banco de Credito, Peru's largest bank, is the sponsor of the Admission.
In recent years the Lima SE has been one of the most profitable exchanges in the world with an average annual return of 168% in 2006. Trading volume on the Lima SE has increased five fold since 2004 and total Lima SE market capitalization is approximately US$ 100 billion.
In addition, the U.S. - Peru Trade Promotion Agreement was signed into law on Friday 14 December, 2007. This comprehensive trade agreement will eliminate tariffs and other barriers to goods and services and expand trade between the United States and Peru, allowing Peruvian products to enter the giant U.S. market duty-free. This is an important agreement for Maple as the U.S. is one of the key target export markets for Maple's ethanol product.
"The Admission of Maple to the Lima SE, in conjunction with the existing London AIM listing of the Company´s shares, represents a significant milestone in the Company's development," said Maple Chairman of the Board and Executive Director Jack Hanks. "Access to the Peruvian capital market is expected to create additional demand for and enhance the trading liquidity of Maple's shares, reflecting the growing domestic Peruvian interest in Maple's energy projects.
"The historic free trade agreement just signed between Peru and the U.S. will allow Maple's Ethanol Project in Peru to export its ethanol product to the U.S. on a duty-free basis, bringing significant commercial benefits to the Company."
- Maple Board Member Resigns (Jun 07)
- Maple Energy Updates on Santa Rosa Operations Onshore Peru (Aug 28)
- Maple Energy Posts Financial Results for First Six Months (Aug 18)