Vision's 'take it or walk-away with nothing' no longer the only option for interested parties.
It appears there is still light at the end of the tunnel in the Tongaat Hulett saga following a major development for the beleaguered sugar producer a significant lifeline has been presented to the business rescue practitioners that could save the company from potential liquidation and offer a more favourable outcome for both shareholders and creditors.
The interested party has proposed that an R8 billion capital injection be used to fully settle the claims of creditors - including settlement of 100% of unsecured creditors' claims and approximately R550 million to settle the South African Sugar Association's statutory claim against it for outstanding levies.
A further allocation of 10% of the share capital is to remain in the hands of the current shareholders, which would represent four times the value offered by the Vision Consortium.
A welcome alternative to Vision's predatory plans
هذه القصة مأخوذة من طبعة July 23, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 23, 2024 من The Citizen.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Costa to shine in Meydan opener
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Race-by-race guide to Sha Tin meeting
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Fourie back at Fairview, Countess best in the Cape
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It's the end of golden era
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Master to shine in Victory Moon
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Wheels on the block
Park Village Auctions (PVA) is proud to announce four vehicle auctions featuring South Africa's most loved brands this month.
Empowering creatives
SILENT AUCTION: CHANCE TO INVEST IN THE FUTURE OF ART STUDENTS
Guess what? India are here
There was a time when an Indian cricket team's arrival in South Africa generated all sorts of interest.
Evidence is back in Bafana squad
Orlando Pirates striker Evidence Makgopa returned to the Bafana Bafana squad yesterday, as Hugo Broos picked his 23 players to take on Uganda and South Sudan in 2025 Africa Cup of Nations (Afcon) qualifiers later this month.
NO WORLD CUP SCARS
MARKRAM: BRINGS OUT EXCITEMENT TO TRY AND GET ONE BACK ON INDIA
