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Update: Comair issued a correction: The directors in fact sold and not bought the shares.
Cape Town - Atul Gupta, one of the three controversial Gupta bothers, has bought R68.38m worth of shares in JSE-listed Comair [JSE:COM].
According to a Comair announcement posted on SENS on Tuesday, Gupta bought 22 794 439 ordinary shares at R3 apiece.
Gupta, managing director of Sahara Holdings and executive chairperson of TNA Media, has been an independent non-executive director of Comair for the last four years.
The Gupta family caused a stir in April this year when they landed a private aircraft at the Waterkloof Air Force Base. President Jacob Zuma also became implicated in what became known as Guptagate.
According to TNA Media, Gupta came to South Africa in 1993 to explore business opportunities. Since then he co-founded Sahara Computers, one of the largest IT groups in SA, and expanded the family investments into mining, real estate, aviation and the tourism and leisure industry.
Gupta - together with brothers Ajay and Rajesh - also owns The New Age newspaper and the 24-hour news channel The Africa New Network (ANN7).
Another Comair director, Ronnie Ntuli, bought R17.31m worth of shares. The non-executive joint deputy chairperson of Comair is also CEO of Nduna Advisory Services.
In September, the low-cost carrier posted a significant improvement in profitability for the year to end-June.
It said revenue grew by 29% to R5.38bn and headline profit was R231m.
Cape Town - Atul Gupta, one of the three controversial Gupta bothers, has bought R68.38m worth of shares in JSE-listed Comair [JSE:COM].
According to a Comair announcement posted on SENS on Tuesday, Gupta bought 22 794 439 ordinary shares at R3 apiece.
Gupta, managing director of Sahara Holdings and executive chairperson of TNA Media, has been an independent non-executive director of Comair for the last four years.
The Gupta family caused a stir in April this year when they landed a private aircraft at the Waterkloof Air Force Base. President Jacob Zuma also became implicated in what became known as Guptagate.
According to TNA Media, Gupta came to South Africa in 1993 to explore business opportunities. Since then he co-founded Sahara Computers, one of the largest IT groups in SA, and expanded the family investments into mining, real estate, aviation and the tourism and leisure industry.
Gupta - together with brothers Ajay and Rajesh - also owns The New Age newspaper and the 24-hour news channel The Africa New Network (ANN7).
Another Comair director, Ronnie Ntuli, bought R17.31m worth of shares. The non-executive joint deputy chairperson of Comair is also CEO of Nduna Advisory Services.
In September, the low-cost carrier posted a significant improvement in profitability for the year to end-June.
It said revenue grew by 29% to R5.38bn and headline profit was R231m.
