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JOHANNESBURG - South African chemical and explosives company AECI Limited disclosed that 36ONE Asset Management (Proprietary) Limited has acquired a beneficial interest, crossing the 5% threshold to now hold 5.37% of the company’s issued ordinary share capital. This transaction triggers a mandatory notification to shareholders and noteholders under the country’s corporate governance rules.
The acquisition was reported in line with section 122(3)(b) of the Companies Act, No. 71 of 2008, as amended, and regulation 121(2)(b) of the Companies Regulations, 2011. It also adheres to paragraph 3.83(b) of the JSE Limited Listings Requirements. AECI, which is listed on the Johannesburg Stock Exchange with the share code AFE, is a major player in the supply of chemicals and related products to various industries, including mining, water treatment, plant and animal health, food and beverage, and general industrial sectors.
In compliance with sections 122(3)(a) and 122(3A) of the Companies Act, AECI will file the required notice with the Takeover Regulation Panel and the Companies and Intellectual Property Commission. The board of directors of AECI has taken responsibility for the information contained in the announcement, ensuring its accuracy and completeness.
The disclosure did not reveal the financial details of the transaction or the specific reasons behind 36ONE’s investment decision. However, crossing the 5% ownership mark is a significant event that often indicates a strategic interest in the company’s operations and future direction.
AECI’s equity sponsor is One Capital, while Questco Corporate Advisory acts as the debt sponsor. The news of this acquisition may be of interest to investors who track significant shareholding changes as indicators of investor confidence and potential influence on corporate strategy.
This report is based on a press release statement from AECI Limited.
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