Hosken Consolidated Investments (HCI) has received valid acceptances representing about 6,7% of the shares in Johnnic Holdings (JNC) which will take its stakeholding in the gaming and entertainment group to about 46,5%.
HCI said on Monday that valid acceptances in terms of its mandatory offer for Johnnic had been received for 11 082 782 Johnnic shares.
The deal is still subject to approval by the competition authorities.
While the Competition Commission has conditionally approved the takeover, the Competition Tribunal will rule on the transaction on Tuesday. – I-Net Bridge