Hungarian energy group MOL has transferred the transit fee for use of the Ukrainian section of the pipeline
SA’s second-largest retail pharmacy chain is investing in cutting-edge technology to innovate new solutions for customers, while creating shareholder value
Williams has previously testified about hardships she faced during Faith Muthambi’s tenure as communications minister
Previously the MEC for KZN’s department of economic development, tourism & environmental affairs, premier Dube-Ncube is the first woman to lead that province’s executive
The hefty hike will be felt by all South Africans when gas-reliant manufacturers such as those that produce bread, are forced to hike prices
But Numsa’s Irvin Jim is adamant the sector can absorb the union’s demand for a 20% wage hike, way above the 6.5% headline inflation rate
That would allow President Ranil Wickremesinghe time to institute tough economic reforms to secure a bailout from the IMF
Failure to win on Saturday would put coach Ian Foster and captain under pressure in terms of their future with the team
Chris and Suzaan Alheit have been making some of the Cape’s finest whites for the past ten years, the latest vintage being no exception
Rebosis Property Fund says the JSE has granted it an extension to finalise the preparation and review of pro forma financial information for the sale of its rental assets.
Shareholders were told in October that full details of the transaction would be set out in the circular with the pro forma financial effects of the transaction. The circular to shareholders is expected to be distributed on or about January 21, Rebosis said in a Sens announcement.
Rebosis is a JSE-listed real estate investment trust with a high quality diversified portfolio of commercial and retail assets, including Baywest Mall in Gqeberha and Forest Hill City in Centurion.
On October 21, the company said that it had with its wholly owned subsidiary Ascension Properties concluded agreements for Ulricraft to buy a portfolio of the rental business from Rebosis as a going concern.
The transaction aggregate cash consideration is R6.32bn and the sale portfolio comprises government and state-tenanted office assets.
Ulricraft was established to participate in the transaction. It is a wholly-owned subsidiary of Vunani Capital Partners, a company listed on Equity Express Securities Exchange.
Rebosis said the transaction is consistent with the company’s strategy to deleverage and optimise its balance sheet by reducing its loan-to-value, to realise the value of the office segment of its portfolio, to restructure the business as a retail focused fund and to position the company to resume dividend payments to shareholders.
At the end of August 2021, Rebosis’s group portfolio of 41 properties was valued at R13.1bn with gross lettable area of 799,847m². Of this, the office property portfolio of 35 properties was worth R7bn, according to the annual financial results.
In terms of JSE listings requirements, the pro forma financial effects disclosed in the circular must be based on the latest financial information published by the company. Rebosis published its reviewed annual financial results on December 2, said the company.
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.