Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Media group Avusa (AUA) said on Monday that shareholders have approved the listing and unbundling of its media assets to a new entity Opco.
Opco will be renamed Avusa Limited and be listed on the JSE's Consumer Services - Publishing sector on March 31. Avusa, the group, will be renamed ElementOne with effect from Monday March 31, 2008.
The net book value of the operating media assets, which include I-Net Bridge and Business Day newspaper, is about R1bn, the group said.
Following the implementation of the transaction, Avusa (ElementOne?s) only operating asset will be its 38% stake in Caxton and CTP Publishers and Printers.
The shareholding is not enough to comply with the bourse operator's listing requirement, which is 50% plus one of the voting shares. But the JSE has granted it 12 months from the date of unbundling to remedy the non-compliance.
- I-Net Bridge