In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, PPC wishes to announce that the Company and the CEO have agreed to part ways.
Human error at Computershare is responsible for the approval of two resolutions that would have awarded some of PPC's BBBEE shareholders 4.4m shares in PPC at no cost.
PPC reports that its half-year net profit fell by more than two-thirds as a result of higher finance costs and weaker currencies in African countries where it has operations.
PPC appoints Peter Nelson as chairman, effective immediately, following the retirement of Bheki Sibiya.
PPC's share price plunges more than 14.5% to R4.87 as it warns shareholders at its annual general meeting that its interim headline earnings a share could fall as much as 85%.
ELB Engineering Services Africa wins a contract to upgrade the loading plant at PPC’s Colleen Bawn clinker-making facility between Bulawayo and Beitbridge in Zimbabwe.
PPC may be seeking alternative underwriters for its R4bn rights issue as the fees charged by local banks are 'prohibitively expensive'.
Cement producer PPC has had a spectacular fall from grace over the past few years, but the more immediate question is whether the company offers investment opportunities at its current bombed-out levels.