Johannesburg - Basil Read said yesterday that discussions for the potential private placement of shares, which would result in the listed construction group becoming a black-owned company, were still continuing.
The discussions, if successful, may have a material effect on the price of the company’s shares.
It advised shareholders to exercise caution when dealing in Basil Read’s shares until a full announcement was made.
Basil Read said in August, when it released its financial results for the six months to June, that transformation of the industry was key to fostering a collaborative relationship with government bodies.
Basil Read shares remained flat at R2.50 yesterday.
BUSINESS REPORT