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
'Musica' headed for SA
Cruising is just lekker. There is no other word or phrase that would really do it justice, hyperbole aside.
Museum of military history
Symbolic home of soldiers and veterans worldwide
Camping ain’t for sissies
It enriches, yes, but sometimes leaves you poorer
Boks are fully loaded
ERASMUS: NOT SCARED TO FLIP BACK TO HIS 7-1 BOMB SQUAD BENCH SPLIT
India draw first blood
Turning out against the global champions for the first time since they were edged in their memorable battle in the T20 World Cup final earlier this year, the Proteas stumbled again last night as they were completely demolished by India in the first of four T20 Internationals in Durban.
Make-or-break for Bok five
The Springboks get down to business tomorrow in their opening game of their end-of-year-tour against Scotland at Murrayfield in Edinburgh and they will be gunning to get off to the best possible start. They will be eager to cap a magnificent year with a clean sweep on their tour to the UK. Ross Roche looks at a quintet of players that will be eager to seize their chance to impress on tour.
Some game-changing boxes still left for coach Rassie to tick
The Springboks take on Scotland, England and Wales over the next three weekends in Edinburgh, London and Cardiff respectively.
Jones wary of Dupont 'threat'
Evolving France face Eddie Jones' struggling Japan in the a November international today with superstar Antoine Dupont (above) making his first 15-a-side appearance for the hosts in more than a year.
Drafting Suaalii was never a risk
WALLABIES: FACING ENGLAND IS A HUGE 'OPPORTUNITY'
'Rusty' Azzurri not bothering Quesada
Gonzalo Quesada expects his Italy team to be ring rusty when they take on his home nation Argentina in the Azzurri's opening November Test match today, hoping to end a positive year on a high.
