It is raining BEE schemes.
Ellies Holdings has concluded a
B-BBEE agreement with Imvula Education Empowerment Fund Trust valued at R18,5m.
Imvula subscribed to ~185m ordinary shares in Ellies at 10 cents per share, resulting in a BEE shareholding in Ellies Holdings of 23%
Ellies Holdings has concluded a
B-BBEE agreement with Imvula Education Empowerment Fund Trust valued at R18,5m.
Imvula subscribed to ~185m ordinary shares in Ellies at 10 cents per share, resulting in a BEE shareholding in Ellies Holdings of 23%
Imvula agreed to transaction terms that are favourable to Ellies
such as:
a 10-year lock-in period
Imvula funding the R18.5m from its own sources with no funding (vendor financing) assistance being required from Ellies.
More on vendor financing👇🏾
such as:
a 10-year lock-in period
Imvula funding the R18.5m from its own sources with no funding (vendor financing) assistance being required from Ellies.
More on vendor financing👇🏾
https://twitter.com/MaanoMadima/status/1440685544661393418?s=19
This changes the shareholding of Ellies Holdings significantly.
Imvula is the biggest shareholder with a 23% sharing.
Mazi Capital shareholding drops to 15,58% from 20.5%
Standard Financial Markets with 5,94% holding.
Standard Bank is the biggest lender to Ellies Holdings.
Imvula is the biggest shareholder with a 23% sharing.
Mazi Capital shareholding drops to 15,58% from 20.5%
Standard Financial Markets with 5,94% holding.
Standard Bank is the biggest lender to Ellies Holdings.
Today, Absa Group also announced that it is again considering implementing a new B-BBEE ownership transaction that could constitute up to 8% of Absa’s share capital.
https://twitter.com/MaanoMadima/status/1440598200025374721?s=19
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