Tongaat Hulett enters business rescue in South Africa
Tongaat Hulett today advised shareholders that the Board has commenced voluntary business rescue proceedings for two operations in SA.
Tongaat Hulett
Daily Insider: Chris Logan has had enough of Coronation silence on Peche allegations
Chris Logan says that at the very least, Coronation should take a cue from its tanking share price which is back to 2012 levels.
Daily Insider: Thought leaders say time to hit the eject button – on Tongaat and ANC
Dave Woollam, for instance, has been playing nice with Tongaat for three years and has has switched from Poodle into Doberman mode.
Tongaat shareholder revolt – activist Woollam demands board resign; management be replaced; shares to keep trading
Chartered accountant and former banker turned shareholder activist David Woollam has stopped ‘playing nice’ with Tongaat after years of polite and deaf rebuffs.
Tongaat’s battle to survive
Tongaat Hulett confirmed on Friday, 10 June that Magister will apply to the Takeover Special Committee for a hearing. The hearing application follows the Takeover Regulatory Panel’s ruling that nullified a particular waiver set forth by Magister and Tongaat.
No more sugar coating Tongaat Hulett – a rights issue under fire – commentary from Hamish Rudland and Chris LoganÂ
Related parties to Magister were found to have dealt in shares during the restricted period which has influenced the Takeover Regulation Panel’s decision to nullify the waiver. This decision calls into question the certainty of the rights issue and ultimately the future of Tongaat.
Louis von Zeuner steps down as Tongaat chair; David Noko announced interim
Louis von Zeuner, Chairperson of the Tongaat Hulett board, has regrettably informed the board that he will not be available for re-election.
Tongaat execs see their day in court, will Markus Jooste be next?
Six Tongaat Hulett executives and a former audit partner at Deloitte were granted R30,000 bail after appearing in court.
The Daily Insider: Markus Jooste’s day in court is drawing nearer
Although it is more than four years since Markus Jooste distributed his famous “mea culpa” SMS, his day in court is drawing nearer.
Regulators give green light to Tongaat – unanswered questions remain
The TRP has accepted a request to waiver Tongaat’s underwriters’ – Magister Investments – need to make a buyout offer of the company.