Germany’s Aton lifts stake in Murray & Roberts to almost 30%
German investment holding company Aton owns nearly 30% of Murray & Roberts, the group that has repositioned itself from a construction firm to mining contractor, said in a trading update on Monday. Murray & Roberts’s share price jumped 34% to R15 on February 16 on news that Aton had taken a 25.5% stake. The group said as at April 30, Aton’s stake had increased to 29.998%. "The company has not received any further guidance, correspondence or communication from Aton regarding its future intentions for its investment in the company," Murray & Roberts said in the trading statement. Murray & Roberts’s share price fell 1.67% to R13.57 on Monday after it warned shareholders it expected to report headline earnings per share (HEPS) for the year to end-June would be more than 20% lower than the prior year’s R1.58. It said that in addition to persistently low energy prices and difficult trading conditions, its full year results would suffer from four unprofitable building projects in the Middl...
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