PYX Resources: Achieving volume and diversification milestones. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAeci 5 1/2% Prf Regulatory News (87FZ)

Share Price Information for Aeci 5 1/2% Prf (87FZ)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 65.75
Bid: 0.00
Ask: 0.00
Change: 0.00 (0.00%)
Spread: 0.00 (0.00%)
Open: 65.75
High: 0.00
Low: 0.00
Prev. Close: 65.75
87FZ Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Acquisition of the KTH Consortium's 25,1% Interest

13 Oct 2011 09:05

AECI LIMITED (Incorporated in the Republic of South Africa) (Registration number 1924/002590/06) JSE ordinary share code: AFE JSE preference share code: AFEP JSE ordinary share ISIN: ZAE000000220 JSE preference share ISIN: ZAE000000238 ("AECI" or "the Group")

FURTHER CAUTIONARY ANNOUNCEMENT: ACQUISITION BY AECI OF THE KTH CONSORTIUM'S 25,1% INTEREST IN AECI'S EXPLOSIVES BUSINESS IN EXCHANGE FOR ORDINARY SHARES IN AECI

Shareholders of AECI ("Shareholders") are referred to the cautionary announcement released on the Securities Exchange News Service ("SENS") on Tuesday, 26 July 2011 and published in the press on Wednesday, 27 July 2011 and the subsequent cautionary announcement released on SENS on Tuesday, 6 September 2011 and published in the press on Wednesday, 7 September 2011 (collectively, "the Cautionary Announcements").

The Cautionary Announcements relate to the proposed acquisition by AECI of the effective 25,1% equity interest in AECI's explosives business, AEL Mining Services Limited, held by an empowerment consortium led by Kagiso Tiso Holdings Proprietary Limited and the Tiso AEL Development Trust, in exchange for the issue of 4 678 667 new AECI ordinary shares ("the proposed KTH Transaction").

In terms of the Listings Requirements of the JSE Limited ("JSE"), the proposed KTH Transaction is deemed a small related party transaction. AECI has appointed Ernst & Young Advisory Services Limited ("E&Y") as Independent Professional Expert to provide the board of directors of AECI ("the Board") with an opinion on the fairness of the proposed KTH Transaction ("Fairness Opinion"). The Board expects to receive the Fairness Opinion by the end of October 2011.

The proposed KTH Transaction remains subject to the fulfilment of a number of conditions precedent, including, but not limited to:

* the execution of the definitive transaction agreements; * obtaining all necessary lender waivers and consents; * receiving a positive fairness opinion from E&Y; * the approval of the fairness opinion by the JSE; and * to the extent necessary, all other regulatory consents and approvals. It is expected that the proposed KTH Transaction will be implemented by nolater than Wednesday, 30 November 2011, once all conditions precedent have beenfulfilled. Accordingly, Shareholders are advised to continue exercising cautionwhen dealing in AECI shares until a further announcement in this regard ismade.Woodmead13 October 2011Investment bank and Attorneys and tax Independent expert transaction sponsor advisers Ernst & Young Advisory The Standard Bank of Webber Wentzel Services Limited South Africa Limited Corporate sponsor Rand Merchant Bank (a division of FirstRand Bank Limited)

Date   Source Headline
13th Feb 20197:00 amPRNInterest Payments Notification
12th Dec 201811:18 amPRNInterest Payments Notification Correction
3rd Dec 201812:00 pmPRNInterest Payments Notification
3rd Dec 201810:00 amPRNRefinancing of short-term bridge facilities
20th Nov 20189:00 amPRNPreference Dividend Declaration
19th Nov 20184:16 pmPRNListing of New Financial Instruments
6th Nov 20187:20 amPRNPresentation: Much Asphalt Proprietary Limited
5th Sep 20182:30 pmPRNUpdate to the Programme Memorandum
13th Aug 201811:15 amPRNPublication of Presentation on website
30th Jul 20188:00 amPRNDirector/PDMR Shareholding
25th Jul 201811:00 amPRNResults Presentation on Website
25th Jul 20187:00 amPRNInterim Financial Results & Cash Dividend Declaration
2nd Jul 201811:00 amPRNDirector/PDMR Shareholding
27th Jun 20188:30 amPRNHolding(s) in Company
25th Jun 20188:51 amPRNDealings re LTIP
1st Jun 20188:32 amPRNDirectorate Change
31st May 201812:15 pmPRNResult of AGM
22nd May 20189:00 amPRNDividend Declaration
4th May 20182:42 pmPRNLTIP Acceptance of Awards of Performance Shares
26th Apr 20181:47 pmPRNNotice of AGM, No Change Stmt & BEE Stmt
6th Apr 201810:00 amPRNAppointment of External Auditor
3rd Apr 20184:00 pmPRNFulfilment of Conditions Precedent - Much Asphalt
29th Mar 20183:16 pmPRNTimeline for Appointment of External Auditor
27th Feb 201812:30 pmPRNDirectorate Change
27th Feb 201810:00 amPRNResults Presentation
27th Feb 20188:27 amPRNFinal Results & Dividend Declaration
19th Feb 20187:17 amPRNTrading Statement
17th Jan 20183:07 pmPRNFulfilment of Conditions Precedent
11th Dec 20172:13 pmPRNNotification in terms of Section 45(5)
4th Dec 20173:00 pmPRNRotation of External Auditors
27th Nov 20173:00 pmPRNDirectorate Change
27th Nov 20177:01 amPRNHolding(s) in Company
23rd Nov 20179:23 amPRNHolding(s) in Company
21st Nov 20179:00 amPRNPreference Dividend Declaration
13th Nov 20179:30 amPRNLTIP Acceptance
8th Nov 20177:00 amPRNAcquisition of Schirm & Withdrawal of Cautionary Ann
30th Oct 20177:00 amPRNAcquisition of Much Asphalt & Further Cautionary
24th Oct 20178:00 amPRNPresentation on Website
18th Oct 20177:47 amPRNCautionary Announcement
29th Sep 20174:00 pmPRNDirectorate Change
21st Aug 20179:13 amPRNDirector/PDMR Shareholding
10th Aug 20172:44 pmPRNListing of New Financial Instrument
10th Aug 201712:09 pmPRNPublication of Programme Memorandum
28th Jul 201712:00 pmPRNDirector/PDMR Shareholding
26th Jul 201711:00 amPRNResults Presentation
26th Jul 20177:00 amPRNInterim Financial Results & Cash Dividend Declaration
18th Jul 20177:00 amPRNTrading Statement
30th Jun 20172:00 pmPRNDirector/PDMR Shareholding
7th Jun 20178:30 amPRNStatement re Water Strategy Presentation
31st May 20172:37 pmPRNHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.