2008 // Posts published in 2008
ANNOUNCEMENT OF THE CLOSING DATE OF THE OFFER, AND THE INVOCATION OF SECTION
Introduction HCI and Johnnic shareholders are referred to the circular posted to Johnnic shareholders on Monday 21 July 2008 (the “circular”) which contains details of the offer by HCI`s wholly owned subsidiary, Mercanto Investments (Proprietary) Limited (the “offeror”), to all Johnnic shareholders to acquire all of their Johnnic ordinary shares (“Johnnic shares”) that HCI and ...
FULFILMENT OF CONDITIONS PRECEDENT AND SALIENT DATES ANNOUNCEMENT
1 Introduction Shareholders are referred to the firm intention and withdrawal of cautionary announcement (“firm intention announcement”) released by HCI and Johnnic on the Securities Exchange News Service (“SENS”) of the JSE Limited on Tuesday, 8 July 2008 and published in the press on Wednesday, 9 July 2008, wherein shareholders were informed of HCI, through ...
FIRM INTENTION TO MAKE AN OFFER AND WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT
1. Introduction Shareholders are referred to the announcements released by HCI and Johnnic on the Securities Exchange News Service (“SENS”) of the JSE Limited (“the JSE”) on Friday, 27 June 2008 and published in the press on Monday, 30 June 2008. Investec Bank Limited is authorised to announce that pursuant to the HCI group`s strategic ...
UPDATE ON HCI KHUSELA COAL (PTY) LTD
HCI subsidiary, HCI Khusela Coal (Pty) Ltd (“HKC”), has been granted mining authorisation by the Department of Minerals and Energy for two of its mining operations. HKC is 80% owned by HCI and 20% owned by Khusela Women Investments (Pty) Ltd. The two new mines are named Palesa (formerly Loopspruit) and Mbali (formerly named Klippoortjie). ...
NOAH FINANCIAL IN MANAGEMENT BUYOUT
Noah Financial in management buyout BLACK empowered stockbroking house Noah Financial Innovation has concluded a management buyout from its major shareholder. It is now 100% owner- managed and majority black-controlled after it bought the outstanding 49% of the firm from HCI in a cash for shares deal. Source: Business Day
NOAH BUYS ITSELF OUT OF HCI
Sale of Noah underlined HCI’s decision to sharpen its focus on its casino and gaming interests Niche BEE stockbroking house Noah Financial Innovation has concluded a management buyout from its major shareholder HCI and is now 100% owner-managed and majority black-controlled. HCI is in the process of focusing on its core casino and gaming business, ...
UNDERTAKING TO ACQUIRE SHARES IN ITS SUBSIDIARY COMPANY, JOHNNIC HOLDINGS LIMITED
1.  INTRODUCTION Shareholders are informed that in terms of an agreement entered into between  HCI and Coronation Asset Management Proprietary) Limited (“Coronation”) finalised on 27 June, 2008, HCI has undertaken to acquire from Coronation its 28.6% shareholding in Johnnic (the “Acquisition”) for a consideration of      R16.75 per Johnnic ordinary share (the “Purchase Price”). HCI is considering ...
POOR ON THE RECEIVING END
EMPOWERMENT The Mineworkers Investment Company (MIC) has moved way beyond its peers in the mass-based black economic empowerment (BEE) space, with a R248m payout to its shareholder. This brings MIC’s total disbursement to the Mineworkers Investment Trust to R370m since its inception in 1994. The price tag has shamed many other BEE entities that claim ...
HCI READY TO TAKE CONTROL OF SEARDEL AS SEARLL STEPS ASIDE
e.tv owner Hosken Consolidated Investments (HCI) is expected to take control of Seardel from chief executive and founder Aaron Searll, after he relented to pressure and agreed to restructure the struggling clothing manufacturer. Searll said yesterday that he expected new shareholder HCI to end up with a 51 percent stake in the country’s largest clothing ...
HAPPY ENDING TO SAD TALE
About three years ago clothing manufacturer Seardel sold its beach house in the upscale holiday town of Plettenberg Bay for R17 million. Chief executive Aaron Searil says it bought the pad for investment purposes only. It paid R7 million for it eight years ago and one certainly can’t argue with a 143 percent return on ...