AfriSam Group (Pty) Ltd (AfriSam) is pleased to announce that it submitted a revised merger proposal to PPC Limited (PPC) and that Fairfax Africa Investments Proprietary Limited (Fairfax) has made a Partial Offer to acquire ordinary shares in PPC representing a value of R2 billion held by PPC shareholders.
Today the National Home Builders Registration Council (NHBRC) announced that it will be spending more than R30 million in the new financial year starting on 1st of April 2017 in its efforts to bring about transformation in the home building industry.
The Department of Trade and Industry (dti) plans to spend R216 million on renovations at five industrial parks in the country.
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.
Building activity in the South African market for new housing remained largely subdued in the first three quarters of 2016.
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.
The Consulting Engineers South Africa (CESA) Bi-annual Economic and Capacity Survey for the period January to June 2016, just released indicates that times remain tough.
In line with past practice and disclosure, Cashbuild herewith provides its quarterly trading update.