In a rather eventful day in corporate news, MC Mining announced the resignation of chairman Nhlanhla Nene, while Canal+ covered MultiChoice some more. In international news, luxury goods group Hermès' sales are strong, but this does not mean that demand in China is recovering.
Junior coal mining company MC Mining announces appointment of Nhlanhla Nene as chairman After serving in the position for approximately two years, he resigned on April 25th. At the time of his appointment, MC Mining was facing difficult business and financing conditions due to the coronavirus pandemic, the company said in a statement. Subsequently, the company completed the full subscription rights issuance in November 2022, facilitating the revitalization and development strategy review of the Makhado Steel High Coking Coal Project and significantly increasing the value of the project for all stakeholders. MC Mining's board recently reluctantly recommended that shareholders accept a takeover offer from a consortium called Goldway. “MC Mining and the board would like to express our sincere gratitude to Mr. Nene for his role in the development of the company and our steelmaking coal assets,” CEO Godfrey Gomwe said in a statement. “MC Mining is now on a more stable footing with clear development plans for its large coal resource base and we wish him every success in his future endeavors.”
Takeover Regulation Commission On Thursday, the French media giant said it has now invested between R116 and R117.59, increasing its stake to 41.6% following a series of transactions between April 18 and April 24. Announced. Canal+ has offered him R125 per share for his MultiChoice, and the latter has previously made it clear that Canal+ would still face takeover hurdles if it sought to increase its control. MultiChoice rose 0.4% on Thursday and is up about 45% so far in 2024.
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