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/ 15 September 2005
Vehicle-distribution group McCarthy’s chief executive, Brand Pretorius, says the South African motor industry remains fully committed to the government’s taxi-recapitalisation programme and will do whatever is required to ensure its success. However, there are still some grey areas regarding the vehicle-scrapping policy and procedures.
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/ 14 September 2005
The profile of well-heeled South Africans is changing dramatically and financial institutions need to recognise these changes and accommodate them, according to the CEO of First National Bank (FNB) Private Clients, Eric Enslin. He was speaking at the introduction of FNB’s new private-banking initiative on Wednesday.
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/ 14 September 2005
South African construction and building materials company Group Five on Wednesday announced that economic empowerment rating agency Empowerdex has given its proposed black economic empowerment (BEE) transaction a score of more than 80%.
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/ 7 September 2005
South African automobile parts group Tiger Wheels on Wednesday reported a 9,4% decrease in headline earnings per share to 214,1 cents for the year ended June 30 2005, from 236,3 cents a year ago. The group is to distribute to shareholders a portion of the share premium account in lieu of a dividend.
South African media and entertainment group Primedia on Tuesday reported a 39,7% increase in headline earnings per share to 95 cents for the year ended June 30 2005, from 68 cents a year ago. In line with the policy of maintaining a cover of two times, Primedia resolved to pay a total distribution of 56 cents per share.
The Congress of South African Trade Unions (Cosatu) says it remains committed to pursue its rolling mass action in support of the jobs and poverty campaign, which runs until February next year and includes periodic national stayaways as well as sectoral action.
Listed packaging group Nampak has reached agreement to conclude a 10% black economic empowerment (BEE) transaction pursuant to which approximately 5% of the issued share capital of Nampak will be owned by Nampak employees and 5% will be owned by BEE groups comprising a broad base of black people.
The Business Connexion group on Tuesday reported headline earnings per share of 74,9 cents for the year ended May 31 2005, from 34,2 cents a year ago. The group declared a normal dividend of 20 cents per share and a special dividend of 17 cents per share.
Diamond group De Beers Consolidated Mines on Friday confirmed that the National Union of Mineworkers has indicated its intention to declare a dispute with the company. According to De Beers, this follows a series of meetings between the parties on annual substantive negotiations.
The nationwide strike at South African gold mines is over, the Chamber of Mines said on Thursday. A spokesperson said the National Union of Mineworkers and Solidarity trade union have accepted an offer of a pay increase of between 6% and 7%. The agreement covers two years and the minimum increase for the second year must be 5,5%.