Market Watch

Big blow to Tongaat takeover

Company clings to assets

The company is buckling under a R6.8 billion debt burden and hoped that a rights issue, and the effective takeover, would save it.

2 Jaar Gelede - 2022-06-06 00:00:00

Despite a potentially lethal blow to a planned rights issue and takeover of the company, Tongaat Hulett says it remains committed to a recapitalisation – and doesn’t want to se

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Katima Mulilo: 19° | 32° Rundu: 19° | 33° Eenhana: 20° | 33° Oshakati: 22° | 32° Ruacana: 20° | 27° Tsumeb: 19° | 32° Otjiwarongo: 17° | 29° Omaruru: 19° | 31° Windhoek: 19° | 29° Gobabis: 20° | 33° Henties Bay: 18° | 22° Wind speed: 22km/h, Wind direction: SW, Low tide: 03:05, High tide: 09:49, Low Tide: 16:30, High tide: 22:55 Swakopmund: 17° | 19° Wind speed: 26km/h, Wind direction: SW, Low tide: 03:03, High tide: 09:47, Low Tide: 16:28, High tide: 22:53 Walvis Bay: 18° | 23° Wind speed: 28km/h, Wind direction: SW, Low tide: 03:03, High tide: 09:46, Low Tide: 16:28, High tide: 22:52 Rehoboth: 19° | 31° Mariental: 22° | 35° Keetmanshoop: 21° | 32° Aranos: 22° | 35° Lüderitz: 17° | 28° Ariamsvlei: 23° | 34° Oranjemund: 15° | 26° Luanda: 25° | 28° Gaborone: 20° | 33° Lubumbashi: 17° | 22° Mbabane: 18° | 25° Maseru: 16° | 26° Antananarivo: 17° | 26° Lilongwe: 18° | 27° Maputo: 23° | 32° Windhoek: 19° | 29° Cape Town: 18° | 31° Durban: 22° | 24° Johannesburg: 16° | 26° Dar es Salaam: 26° | 31° Lusaka: 17° | 27° Harare: 17° | 29° Currency: GBP to NAD 23.15 | EUR to NAD 19.29 | CNY to NAD 2.55 | USD to NAD 18.63 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.29 | EGP to NAD 0.36 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.21 | RUB to NAD 0.19 | INR to NAD 0.21 | USD to DZD 134.69 | USD to AOA 912 | USD to BWP 13.88 | USD to EGP 50.23 | USD to KES 129.21 | USD to NGN 1496.41 | USD to ZAR 18.63 | USD to ZMW 28.15 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 86610.69 Up +0.18% | Namibian Stock Exchange (NSX) Overall Index 1755.71 Down -0.35% | Casablanca Stock Exchange (CSE) MASI 16217.65 Down -0.18% | Egyptian Exchange (EGX) 30 Index 29735.59 Up +0.23% | Botswana Stock Exchange (BSE) DCI 10075.28 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 858.71/OZ DOWN -0.0037 | Copper US$ 4.47/lb UP +0.53% | Zinc US$ 2 834.50/T UP 1.23% | Brent Crude Oil US$ 75.55/BBP UP +0.37% | Platinum US$ 1 003.35/OZ DOWN -0.0047 Sport results: Weather: Katima Mulilo: 19° | 32° Rundu: 19° | 33° Eenhana: 20° | 33° Oshakati: 22° | 32° Ruacana: 20° | 27° Tsumeb: 19° | 32° Otjiwarongo: 17° | 29° Omaruru: 19° | 31° Windhoek: 19° | 29° Gobabis: 20° | 33° Henties Bay: 18° | 22° Wind speed: 22km/h, Wind direction: SW, Low tide: 03:05, High tide: 09:49, Low Tide: 16:30, High tide: 22:55 Swakopmund: 17° | 19° Wind speed: 26km/h, Wind direction: SW, Low tide: 03:03, High tide: 09:47, Low Tide: 16:28, High tide: 22:53 Walvis Bay: 18° | 23° Wind speed: 28km/h, Wind direction: SW, Low tide: 03:03, High tide: 09:46, Low Tide: 16:28, High tide: 22:52 Rehoboth: 19° | 31° Mariental: 22° | 35° Keetmanshoop: 21° | 32° Aranos: 22° | 35° Lüderitz: 17° | 28° Ariamsvlei: 23° | 34° Oranjemund: 15° | 26° Luanda: 25° | 28° Gaborone: 20° | 33° Lubumbashi: 17° | 22° Mbabane: 18° | 25° Maseru: 16° | 26° Antananarivo: 17° | 26° Lilongwe: 18° | 27° Maputo: 23° | 32° Windhoek: 19° | 29° Cape Town: 18° | 31° Durban: 22° | 24° Johannesburg: 16° | 26° Dar es Salaam: 26° | 31° Lusaka: 17° | 27° Harare: 17° | 29° Economic Indicators: Currency: GBP to NAD 23.15 | EUR to NAD 19.29 | CNY to NAD 2.55 | USD to NAD 18.63 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.29 | EGP to NAD 0.36 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.21 | RUB to NAD 0.19 | INR to NAD 0.21 | USD to DZD 134.69 | USD to AOA 912 | USD to BWP 13.88 | USD to EGP 50.23 | USD to KES 129.21 | USD to NGN 1496.41 | USD to ZAR 18.63 | USD to ZMW 28.15 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 86610.69 Up +0.18% | Namibian Stock Exchange (NSX) Overall Index 1755.71 Down -0.35% | Casablanca Stock Exchange (CSE) MASI 16217.65 Down -0.18% | Egyptian Exchange (EGX) 30 Index 29735.59 Up +0.23% | Botswana Stock Exchange (BSE) DCI 10075.28 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 858.71/OZ DOWN -0.0037 | Copper US$ 4.47/lb UP +0.53% | Zinc US$ 2 834.50/T UP 1.23% | Brent Crude Oil US$ 75.55/BBP UP +0.37% | Platinum US$ 1 003.35/OZ DOWN -0.0047