Tongaat deal goes sour
The Citizen|August 12, 2024
A legal challenge to debt-for-assets swap is on the cards.
- Roy Cokayne
Tongaat deal goes sour

Resolutions that would have resulted in a debt-for-equity swap at Tongaat Hulett and a significant dilution in value for shareholders in the financially distressed, suspended JSE-listed sugar and property developer failed to receive sufficient support to pass at a general meeting last Thursday.

A special resolution to enable the issue of additional Tongaat shares received 48% of votes in favour and 52% against, with 3.78% abstentions.

At least 75% of the votes cast were required to be in favour of the resolution for it to pass.

この蚘事は The Citizen の August 12, 2024 版に掲茉されおいたす。

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この蚘事は The Citizen の August 12, 2024 版に掲茉されおいたす。

7 日間の Magzter GOLD 無料トラむアルを開始しお、䜕千もの厳遞されたプレミアム ストヌリヌ、9,000 以䞊の雑誌や新聞にアクセスしおください。

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