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.

Denne historien er fra August 12, 2024-utgaven av The Citizen.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra August 12, 2024-utgaven av The Citizen.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA THE CITIZENSe alt
FlySafair conundrum
The Citizen

FlySafair conundrum

Ruling by council poses threat to international flights.

time-read
2 mins  |
November 13, 2024
Future forward flip-flops now
The Citizen

Future forward flip-flops now

VEGAN: MADE OF POLYPROPYLENE ROPE IN NICARAGUA

time-read
2 mins  |
November 13, 2024
The Citizen

Feathers fly at Chanel's return

Chanel returned to the Grand Palais – scene of the late Karl Lagerfeld’s most legendary triumphs – for the first time in four years yesterday with a bird-cage-themed Paris Fashion Week show that recalled the label’s past glories.

time-read
1 min  |
November 13, 2024
The Citizen

Kim seals defence pact with Putin

North Korea has ratified a landmark defence pact with Russia, state media reported yesterday, deepening security cooperation that has seen Pyongyang send thousands of troops to help Moscow fight Ukraine.

time-read
1 min  |
November 13, 2024
The Citizen

Climate 'hell' uproots millions

High temperatures, extreme weather events to blame.

time-read
1 min  |
November 13, 2024
The Citizen

Opposition wins in Mauritius

Port Louis - Mauritius opposition leader Navin Ramgoolam said yesterday his alliance had won a crushing election victory over the governing coalition, after the incumbent prime minister conceded he faced a \"huge defeat\".

time-read
1 min  |
November 13, 2024
The Citizen

Nintendo's Mario woos new lovers

Once confined to rectangular screens, chirpy plumber Mario and pointy-eared Princess Zelda are popping up in theme parks and toy stores as Nintendo goes all out to win non-gamer fans.

time-read
1 min  |
November 13, 2024
The Citizen

Abused victims get a sorry

New Zealand's prime minister delivered a historic apology yesterday to victims abused in state care, acknowledging the \"unimaginable pain\" suffered within children's homes and psychiatric hospitals.

time-read
1 min  |
November 13, 2024
Dear Lord of the Fries...
The Citizen

Dear Lord of the Fries...

I shower your luminous head with congratulations.

time-read
4 mins  |
November 13, 2024
The Citizen

The Don builds his powerhouse

US president-elect Donald Trump announced new members of his incoming administration on Monday, and was expected to pick Florida Senator Marco Rubio as secretary of state.

time-read
1 min  |
November 13, 2024