Company news in brief
Implats finally gets takeover nod
Impala Platinum has finally been issued a compliance certificate from the Takeover Regulation Panel (TRP), a critical requirement in order for the platinum miner to officially conclude its offer to buy out Royal Bafokeng Platinum's remaining shareholders.
The compliance certificate from the TRP – an entity belonging to the Department of Trade, Industry and Competition – is one of two outstanding conditions that needed to be met before the offer to RBPlats shareholders can be declared unconditional and closed out.
The other, final, condition is the JSE approval for listing the offer consideration shares, which Implats will now re-apply for.
This is not anticipated to be problematic, however, and once the JSE's approval is received, "the offer will become wholly unconditional and Implats will make a further announcement setting out the important dates and times relating to the closing of the offer", it said.
Implats had gained a controlling share of RBPlat in May, after acquiring the Public Investment Corporation's (PIC) 9.26% stake. – Fin24
Revix freezes quarter of crypto assets
South African crypto investment company Revix says it has had to freeze a quarter of its clients' crypto assets after one of its service providers abruptly halted withdrawals.
Revix, which is backed by JSE-listed investment group Sabvest, said that South Korean company Haru Invest had blocked all crypto withdrawals earlier in the month.
Revix had invested 24% of the crypto assets of clients with Haru.
"Given Haru Invest's unexpected halt on withdrawals, we have no alternative but to render 24% of crypto asset balances held on the Revix platform ... as reserved," Revix said in an update posted to its website.
"This reserved status means that these assets are untradeable and non-withdrawable until we have further information from Haru." – Fin24
Impala Platinum has finally been issued a compliance certificate from the Takeover Regulation Panel (TRP), a critical requirement in order for the platinum miner to officially conclude its offer to buy out Royal Bafokeng Platinum's remaining shareholders.
The compliance certificate from the TRP – an entity belonging to the Department of Trade, Industry and Competition – is one of two outstanding conditions that needed to be met before the offer to RBPlats shareholders can be declared unconditional and closed out.
The other, final, condition is the JSE approval for listing the offer consideration shares, which Implats will now re-apply for.
This is not anticipated to be problematic, however, and once the JSE's approval is received, "the offer will become wholly unconditional and Implats will make a further announcement setting out the important dates and times relating to the closing of the offer", it said.
Implats had gained a controlling share of RBPlat in May, after acquiring the Public Investment Corporation's (PIC) 9.26% stake. – Fin24
Revix freezes quarter of crypto assets
South African crypto investment company Revix says it has had to freeze a quarter of its clients' crypto assets after one of its service providers abruptly halted withdrawals.
Revix, which is backed by JSE-listed investment group Sabvest, said that South Korean company Haru Invest had blocked all crypto withdrawals earlier in the month.
Revix had invested 24% of the crypto assets of clients with Haru.
"Given Haru Invest's unexpected halt on withdrawals, we have no alternative but to render 24% of crypto asset balances held on the Revix platform ... as reserved," Revix said in an update posted to its website.
"This reserved status means that these assets are untradeable and non-withdrawable until we have further information from Haru." – Fin24
Kommentaar
Republikein
Geen kommentaar is op hierdie artikel gelaat nie