No image available
/ 15 November 2005
Shareholders of Old Mutual plc, South Africa’s largest life insurer, have approved four separate resolutions allowing the company to implement its R38-billion offer for Swedish insurer Skandia, the company said on Monday. Old Mutual shareholders accepted a resolution to approve the bid for Skandia by a 92,4% favourable vote.
No image available
/ 14 November 2005
Old Mutual plc, South Africa’s largest insurer, has posted a notable improvement in its South African businesses in the third quarter of its financial year, recording strong growth in life-insurance and unit-trust sales, while lifting its new business margin and stabilising net client cash outflows.
No image available
/ 11 November 2005
African ministers of finance will be meeting in Tunis on November 22 and 23 to seek common positions on a range of issues affecting regional economic development and chart a course of action for the coming years. The meeting will be hosted by the African Development Bank.
No image available
/ 7 November 2005
Leisure casino and hospitality group Sun International announced on Monday that the company has entered into a broad-based black economic empowerment (BEE) transaction that will result in 7% of the issued share capital of Sun International being owned by a group of historically disadvantaged individuals.
No image available
/ 7 November 2005
Global oil major Total is investing heavily in its African refining and marketing operations, where it expects to record 20% growth over the next few years, according to Philip Jordan, CEO and MD of Total South Africa. He was addressing the Ninth Annual Africa Downstream conference in Cape Town on Monday.
No image available
/ 3 November 2005
Listed furniture, electronic and electric appliances retailer JD Group has reported a 36% rise in its headline earnings per share for the year to the end of August 2005 to 704,7 cents, from 518,5 cents a year earlier. The group declared a final dividend of 167 cents per share.
No image available
/ 29 October 2005
Global brewing giant SABMiller has launched a $1,36-billion (R9,1-billion) offer to minorities of Colombian brewer Bavaria SA, in which it recently purchased a 71,8% stake. In terms of the offer, detailed on Friday, SABMiller is offering $19,48 per share in cash.
No image available
/ 26 October 2005
Listed health, beauty and pharmacy retailer New Clicks Holdings has reported a 13,3% decline in its diluted headline earnings per share from all operations for the year to the end of August 2005, to 63,2 cents from 72,9 cents a year earlier. The company described its results as "disappointing".
No image available
/ 26 October 2005
Anglo American, one of the world’s largest mining groups, plans to reduce its shareholding in gold miner AngloGold Ashanti in order to give it more flexibility to pursue its own strategic agenda, the company said on Wednesday. It may also opt to establish pulp and paper group Mondi as an independent business.
No image available
/ 26 October 2005
Listed clothing and homeware retailer Foschini will open its very first @home livingspace store on Thursday, a larger-format version of its @home chain offering an expanded range of home decor and furniture. The first @home livingspace store will open in the new Willowbridge shopping centre in Tygervalley, Cape Town.