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The Johannesburg Stock Exchange (JSE) encourages listed companies to keep accurate records of all discussions with journalists and investment analysts for future reference. Though, the way most JSE-listed companies communicate with their shareholders and other stakeholders is outdated, costly and inefficient.
“Updating information about any given entity to shareholders would typically take a few hours,” says Simon Hammerton, co-founder of Johannesburg-based startup Vault.
After 10 years of being involved with investor relations (IR), entrepreneurs James and Simon Hammerton realised that there has to be a better way of doing things. This is why they launched Vault, which has shown impressive growth over the last 12 months.
“Updating IR information with Vault can take you 30 seconds,” notes Simon. Vault also enables JSE-listed companies to manage their web content, databases and meetings.
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“We really want to understand what your challenges and frustrations are,” says Simon. “We are finding that the most effective channel to our target market is via the web development companies and investor relations consultants who have relationships with the listed companies.”
Vault focusses on providing services to companies listed on the JSE and other African exchanges, with 20 clients in South Africa, Ghana and Nigeria, and 4 000 end user investors and investment professionals. Some of these clients include as Alexander Forbes, Tongaat Hulett, Lonim and Sibanye Gold.
It aims to reach 100 customers by the end of 2016.
Vault was recently selected for the Standard Bank Ignitor programme that mentors companies with significant growth potential.