OneLogix: CVDS, United Bulk snapped up

Comment on this story


Listed logistics and transport group OneLogix has entered into agreements to increase its shareholding in Commercial Vehicle Delivery Services (CVDS) and United Bulk. It said on Friday it had agreed with the trustees of the Denmar Trust to acquire the trust’s 25 percent shareholding in and claims against CVDS for R14.25 million. It will now own 100 percent of CVDS. It has also agreed with Tanker Solutions to acquire part of its 14 percent shareholding in and claims against United Bulk for R13m. The group owns 60 percent of United Bulk; the transaction will take this to 74 percent. OneLogix said the purchase consideration for the CVDS transaction would be settled by a cash payment of R5.25m and the allotment and issue by OneLogix of 2.57 million OneLogix shares at an issue price of R3.50 a share. The purchase consideration for the United Bulk transaction will be settled through the allotment and issue of 3.7 million OneLogix shares to Tanker Solutions at an issue price of R3.50 a share. – Roy Cokayne


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