https://www.engineeringnews.co.za
Business|Construction|Exploration|Financial|Industrial|Mining|OPENCAST|Services|Underground|Drilling|Operations
Business|Construction|Exploration|Financial|Industrial|Mining|OPENCAST|Services|Underground|Drilling|Operations
business|construction|exploration|financial|industrial|mining|opencast|services|underground|drilling|operations

UCP shareholders approve takeover by Afrimat

9th October 2020

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed Afrimat has announced that its offer to acquire all of the ordinary shares in Unicorn Capital Partners (UCP) not already held by Afrimat has gotten the green light from UCP’s shareholders.

The industrial minerals and construction materials company in July announced its intention to acquire all the outstanding shares of UCP, which is a mobile crane hire, exploration drilling services, earthmoving blasting, opencast and underground mining services provider.

The rationale for the transaction is that UCP’s operations would provide Afrimat with access to additional services and commodities that expand its current product offering in the bulk commodities segment.

Afrimat will acquire the shares by way of a scheme of arrangements and, should it become operative, UCP shareholders will receive one Afrimat ordinary share for every 280 UCP ordinary shares held.

UCP’s shareholders will benefit from exposure to a business with exciting growth prospects and have a shareholding in a company with better liquidity, says Afrimat. 

The transaction still needs to be approved by the Mpumalanga Economic Growth Agency, the Industrial Development Corporation and financial services provider Absa.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

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:0.092 0.151s - 162pq - 2rq
Subscribe Now