Afrimat extends mandatory offer to Infrasors shareholders
JSE-listed construction materials company Afrimat on Monday announced that it was now the controlling shareholder in Infrasors, as from March 1.
At the beginning of February, Afrimat made an offer to acquire a 50.4% stake in Infrasors from Hanchurch Asset Management and certain retiring management of Infrasors, which had been accepted by the sellers.
As a result of Afrimat’s holding of Infrasors surpassing 35% of the issued ordinary share capital, it was required, in terms of Section 123 of the Companies Act, to extend a mandatory offer to the remaining Infrasors ordinary shareholders.
Afrimat earlier stated that the acquisition would “complement and augment” its industrial minerals and aggregates product offerings and further expand its geographical footprint across South Africa.
Under the terms of the offer, Infrasors’ minority shareholders were entitled to receive 35c per Infrasors share held.
Infrasors further indicated that it was in the process of attending to the challenge of putting in place an independent board, which had been hampered by a lack of directors. The company was also appointing an independent expert, for the purpose of providing a fairness opinion on the terms of the offer.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation