National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Times Media Group Mvelaphanda’s reported stake rectified

January 18 2013 at 08:00am

Comment on this story

Mvelaphanda Holdings now held 1.57 percent of Times Media Group (TMG) and not zero percent as previously announced, the latter said yesterday. TMG said it had received an updated formal notification in line with the Companies Act from Mvelaphanda Holdings to clear the error. On Tuesday TMG, formerly Avusa, disclosed that shareholder Mvelaphanda Holdings had sold its 7.3 percent stake to Caxton, another media company. Caxton’s stake in TMG subsequently rose to 10.4 percent, making it one of the largest shareholders after the Public Investment Corporation, Coronation Fund Managers and printing firm Universal Print Hirt & Carter. TMG publishes Sunday Times, the Sowetan and owns Exclusive Books and Nu Metro cinemas. It also holds half of a joint venture that publishes Business Day and Financial Mail. TMG shares were unchanged at R13.75 after yesterday’s announcement. – Asha Speckman


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku