TML’s Bonamour moves into Cadiz; Seardel unbundles non-media assets

Andrew BonamourSENS at a Glance

Friday, 21 November

  • Total of 558m shares in wholly owned subsidiary Deneb (sales: R2.2bn; op profit R177m) to be unbundled to Seardel shareholders and listed on Monday 1 December. Deneb’s assets range from textiles and manufacturing to distribution and property. Seardel (mkt cap R7.8bn) to become a focused media company. HCI kingpin Johnny Copelyn (64) will chair Deneb; Stuart Queen (42) is CEO. Lawyer Yunus Shaik (57) a non executive director.
  • Times Media (mkt cap: R2.7bn) has issued a cautionary warning shareholders of “new developments” which could affect the share price.
  • Cadiz (mkt cap: R221m) has appointed Blackstar’s founder Andrew Bonamour (pictured), director William Marshall-Smith and consultant Brian Wootton to its directorate. Bonamour is also the CEO of Times Media. This follows Blackstar’s acquisition of a stake in Cadiz. They replace Steven Saunders and Totsie Memela-Khambula who have resigned from the Cadiz board.
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