https://www.engineeringnews.co.za

Afrimat to fund BEE share purchase

16th January 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JSE-listed Afrimat announced on Wednesday that it would provide funding to the Afrimat Black Economic-Empowerment (BEE) Trust to buy the about 6.4-million Afrimat shares held by BEE shareholder, the Mega Oils special purpose vehicle (SPV).

Mega Oils SPV indicated that it would not retain the shares once the seven-year lock-in period ends in November.

The BEE deal with Mega Oils SPV was initially entered into in August 2006.

The Afrimat BEE Trust would buy the shares at R6.18 a share.

The transaction would be funded from existing cash reserves.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Schauenburg SmartMine IoT
Schauenburg SmartMine IoT

SmartMine IoT has been developed with the mining industry in mind, to provides our customers with powerful business intelligence and data modelling...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.074 0.122s - 157pq - 2rq
Subscribe Now