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.
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.
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.
Construction of PPC's cement plant in Zimbabwe remains on track for completion in 2016, the company's CEO says.
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.
PPC says it has entered into a standby underwriting agreement over its proposed rights offer of R4bn with a syndicate of banks.
PPC’s share price plunges as much as 16% to a low of R11.50 after advising shareholders it intends to raise up to R4bn.
PPC shares crash as much as 22% to their lowest level in more than 10 years‚ dealing a blow to the cement maker’s plans to shore up its balance sheet.
PPC reports pleasing expansion progress for the quarter October 2015 to December 2015, despite declining cement sales volumes.