Vision bets on Tongaat shareholder approval of debt-for-equity swap
Vision hopeful for a successful vote as it believes it is in the interest of shareholders and the company to remain listed on JSE
07 August 2024 - 15:15
The Vision Consortium (VC) is optimistic that the shareholders will support the debt-equity swap proposed in Tongaat Hulett’s subscription offer when they vote on Thursday.
Should Tongaat’s shareholders, which include the Public Investment Corporation (PIC), Rudlands, Artemis, and PSG, approve the debt-equity swap, the Vision Consortium will gain 97.3% of the shares, with existing shareholders retaining just 2.7% of the JSE-listed shares. ..
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