Invicta: Major corporate restructuring under way

INVICTA is planning a significant corporate restructuring to empower and position the listed investment holding company for a potential international listing and future corporate actions. The company yesterday also announced a proposed special dividend and rights offer to ordinary shareholders of about R2 billion in February and a preference share placement. The planned restructuring will include the restructuring of the interests of Invicta’s black economic empowerment investors. Invicta said trading conditions in the six months to September were extremely challenging. Headline earnings a share declined by 17 percent to R2.92 from R3.53. Revenue rose by 3 percent to R5.27bn but operating profit dropped by 13 percent to R426.6 million. An ordinary dividend a share of 84c was declared. Yesterday’s session ended 4.89 percent higher at R106.99. – Roy Cokayne