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2014  // Posts published in 2014

27 Jul 2014 Tsogo Sun Holdings

WHY TSOGO LOAN ISN’T EASY MONEY AFTER ALL

TSOGO Sun’s controversial R200-million “interest-free loan” to five of its top brass to enable them to buy shares in the hotel and casino company is highly unusual — but not for the reasons you might think. The headlines have trumpeted the criticism that the loan “is empowering five rich individuals” through what is effectively akin […]

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20 Jul 2014 Tsogo Sun Holdings

HCI’S EXEC ENRICHMENT DEFENDED

HCI, Tsogo Sun’s controlling shareholder, has defended a R200-million interest-free loan to its top five executives, saying it is an effective way to secure their long-term commitment to the company. HCI executive chairman Johnny Copelyn said that ensuring the top executives had a “meaningful” stake in the company should be welcomed by shareholders as it […]

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18 Jul 2014 Tsogo Sun Holdings

SHARE BENEFITS OF LESS INTEREST TO TSOGO EMPLOYEES, SAYS GOLDING

MARCEL Golding, a former trade union boss and worker activist, has defended the selective extension of an interest-free R200m loan to five Tsogo Sun directors, saying they were “key” and “fundamental” to the business and other employees had not been intentionally ignored. Mr Golding said general employees were more concerned with issues such as medical […]

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18 Jul 2014 Tsogo Sun Holdings

SABMILLER SELLS $1 BILLION STAKE IN SOUTH AFRICA’S TSOGO SUN

Global brewer SABMiller Plc sold its $1 billion stake in South Africa’s top gaming and hotel group Tsogo Sun on Friday, disposing of a non-core business and giving it some cash to beef up its beer business in fast-growing Africa. SABMiller, which is also listed in Johannesburg, said it sold 294 million Tsogo Sun shares […]

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18 Jul 2014 Tsogo Sun Holdings

SABMILLER SELLS STAKE IN TSOGO SUN FOR $707 Mln

British brewer SABMiller Plc (SAB.L,SBMRY.PK) said Friday that it has sold 293.89 million shares in South Africa-based gaming and hotel group Tsogo Sun Holdings Ltd. and raised ZAR7.6 billion, or $707 million. The company will invest the net proceeds from the sale in its core growth beverage businesses, including its African operations. SABMiller said in […]

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16 Jul 2014 Tsogo Sun Holdings

A GOOD DEAL FOR TSOGO MANAGEMENT

Five directors to receive R200m interest free loan to buy company shares. CAPE TOWN – A select group of Tsogo Sun directors will own 7.5 million shares in the company, or just less than 1%, if shareholders vote in favour of a resolution that allows the company to loan them the money to do so. […]

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16 Jul 2014 Transport

MyCiTi N2 EXPRESS SERVICE TAKING OFF IN CAPE FLATS – CAPE TOWN

City says 41 taxi drivers from Mitchells Plain and Khayelitsha also reported for training to become bus drivers on service (July 15) MyCiTi N2 Express service taking off in Cape Flats The City of Cape Town is pleased with the manner in which the residents in Mitchells Plain and Khayelitsha have embraced the roll-out of […]

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e.tv’s OPENVIEW HD AND THE DEPARTMENT OF COMMUNICATIONS BOOST LEARNING IN LOCAL SCHOOLS

OpenView HD, a free digital satellite platform powered by e.tv, in collaboration with the South African Department of Communications will be providing big screen television sets and OpenView HD decoders to schools around the country, beginning in the Eastern Cape on 17 and 18 July 2014. Maxwell Nonge, Managing Director of Platco Digital, a division […]

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13 Jul 2014 Tsogo Sun Holdings

STOCK TALK: COPELYN TOUCH TO TSOGO DEAL

BY FRIDAY we’ll know how successful Tsogo Sun has been on its roadshow to drum up support from local and international investors for the purchase of the 300 million Tsogo shares being sold by SABMiller. The fascinating part of the deal is the proposed repurchase by Tsogo of at least 130 million shares from SABMiller […]

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13 Jul 2014 Tsogo Sun Holdings

HCI SET TO BASK IN THE SUN WITH SABMILLER’S EXIT

It WAS always inevitable that one day, brewing giant SABMiller would sell its 40% stake in Tsogo Sun. Since transferring its primary listing to London in 1999, SABMiller has described Tsogo Sun as a noncore operation. So perhaps it was just as inevitable that Johnny Copelyn, executive chairman of HCI, which holds 41% of Tsogo, […]

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