hats off to the SARB and JSE. If those investor b&*"#rds had their way, they would have split the company, saddle the SA entity with all the debt, and thank SA for all those lovely working mines that would have been debt free.
Not the end of it. Agree..Skaap..but it was a share holder decision not a Reserve Bank or JSE one...I challange ANG Management for not going to their major shareholders first to get a heads up. ANG will come up with another plan to follow the Goldfields model. Venkat's (CEO) problem is that he asked for too much at once IMO.... +$2 billion, delisting on LSE and restructuring all at once...Agree that there is a gap there for the short term.
Not to my understanding, no. The shareholders (Paulsen in particular) have wanted a split for ages. It is the R10bn rights issue they were objecting to. The rights issue was to pay off the debt so as to leave the SA entity debt free. Suddenly the Paulsen plan didn't look so enticing anymore - RSA wasn't going to have the wool pulled over their eyes