• To do list

    Keep separate lists to ensure your to-dos don't get cluttered and gain stress-free productivity, Ian Mann.

  • Clueless leaders

    Zim's leaders are clueless about managing the economy or leading the nation, says Malcom Sharara.

  • Govt is out of touch

    Journalists seems to know more than those paid to govern us, says Mandi Smallhorne.

All data is delayed
Loading...
See More

Keaton finalises LME deal

Jan 06 2012 13:47
I-Net Bridge

Company Data

KEATON ENERGY HOLDINGS LIMITED [JSE:KEH]

Last traded 1
Change 0
% Change 8
Cumulative volume 50550
Market cap 0

Last Updated: 28-06-2016 at 04:45. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Cheaper solar panels on the horizon

 
Johannesburg - South African coal exploration and development company Keaton Energy Holdings [JSE:KEH] on Friday said it had implemented its R140m acquisition of a 74% stake in in Leeuw Mining and Exploration (LME).

The acquisition gives Keaton a foothold in the coal exports market.

Conclusion of the acquisition hinged mainly on the department of mineral resources' consent for change of control of LME. This was granted last month.

The acquisition, which was announced in February last year, was settled through the issue of new Keaton shares and R10m in cash to settle an existing loan to LME.

The deal gives Keaton a controlling interest in an existing operating anthracite colliery, significantly increases its portfolio of advanced development projects, and provides vital access to export markets and a wider customer base.

"LME has a renewed 200 000 tonnes per annum participation in Richards Bay Coal Terminal's Quattro export programme and a dedicated railway siding facility near Vaalkrantz," said Keaton in a statement.

It would also mark a major step towards Keaton Energy's objective of becoming a mid-tier coal producer with a diverse range of projects to complement its major Vanggatfontein and Sterkfontein projects in Mpumalanga.

LME's founding shareholder JPI Leeuw and Associates will remain a 26% shareholder in LME.

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE DEBT ISSUE

Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Labour’s call for a cap on salary of high earners is?

Previous results · Suggest a vote

Loading...