Corporate News
| Title | Date |
|---|---|
| Salient dates announcement regarding the Altron general meeting ATN ATNP ATN ATN / ATNP - Altron - Salient dates announcement regarding the Altron general meeting ALLIED ELECTRONICS CORPORATION LIMITED (Incorporated in the Republic of South Africa) (Registration number 1947/024583/06 Share code: ATN & ISIN: ZAE000029658 Share code: ATNP & ISIN: ZAE000029666 ("Altron") SALIENT DATES ANNOUNCEMENT REGARDING THE ALTRON GENERAL MEETING 1 Introduction | 7 November 2007 |
| Altron announces its firm intention to make an offer to both Altech and Bytes minority shareholders The Board of Directors of Allied Electronics Corporation Limited (Altron) today announced that it has expressed independent firm intentions to the Boards’ of both Allied Technologies Limited (Altech) and the Bytes Technology Group (Bytes) to make an offer to acquire, the 38.2% of the issued ordinary share capital of Altech, and the 42.3% of the issued ordinary share capital of Bytes, that Altron does not already own, from the respective minority shareholders in a transaction valued at approximately R 4.8 billion. | 24 October 2007 |
| Altech announces solid growth Allied Technologies Limited (Altech) today announced another successful half-year for the six months ended 31 August 2007. Revenue increased by 20% to R4 billion, the company’s operating profit increased by 6% to R306 million and headline earnings per share were up 11% to 215 cents. | 26 September 2007 |
| Altech acquires Comtech for R 90 million Altech announced today that it has signed an agreement to acquire fleet management company, ComTech (Pty) Ltd, for Altech Netstar Fleet Management Services (ANFMS), subject to the fulfillment of certain conditions precedent. The potential full value of the deal is R90 million, of which R50 million is payable up-front and the balance over two years dependent on specified and agreed profit targets being achieved. | 27 June 2007 |
| Altech granted broadband licence in Rwanda Allied Technologies Limited today announced that Altech Stream Rwanda Limited, one of its African subsidiaries, has been granted a licence to deliver broadband Internet access services in Rwandan cities. The Altech Stream Rwanda licence, which provides the rights to deliver comprehensive broadband services using both wifi and wimax as well as dedicated spectrum usage rights in 2.5 GHz, 3.5 Ghz and 15GHz bands, also includes the rights for Altech Stream to install it’s own satellite earth-station for direct connection to the world wide web. | 25 June 2007 |
| Altech Netstar to open branch offices in Richards bay, Port Elizabeth and Newcastle Altech Netstar, South Africa’s largest stolen vehicle tracking and recovery company, is in the process of establishing branch offices in Richards Bay, Port Elizabeth, and Newcastle. This is as a result of growing demand for its products and services in these areas. | 17 May 2007 |
| Altech maintains solid growth Altech, the JSE-listed high-technology company in the Altron group, has announced its results for the year ended 28 February 2007. Headline earnings per share improved by 10% to 418 cents. Revenue increased by 12% to R6.8 billion, and operating income by 18% to R573 million. Net asset value per share increased from 1 721 cents to 1 863 cents with cash balances of R1.2 billion reflecting the strength of Altech’s balance sheet. | 24 April 2007 |
| Altech and Citynet to provide affordable broadband intenet access services in Sub-Saharan Africa Altech announced today, the signing of a technology and distribution agreement with USA -based CityNet Wireless Incorporated and its global licensing partner CityNet Wireless International (Pty) Limited. The principle of this agreement will enable Altech to enter the broadband infrastructure and operator space in sub-Sahara Africa, using proven leading edge technology currently in operation in more than 40 cities world wide. | 23 April 2007 |
| Altech acquires minority interest in Altech Namitech Allied Technologies Limited (“Altech”) and Giesecke & Devrient (“G&D”), the German smartcard company have concluded an agreement whereby Altech has acquired G&D’s minority interest in Altech NamITech. Altech has acquired G&D’s effective 11% shareholding (taking into account the empowerment shareholding structure) and Altech now owns an effective 72% of Altech Namitech. Pamodzi, the empowerment partner retains its shareholding amounting to 28% of Altech Namitech’s total issued shares. | 13 March 2007 |
| Altech secures orders valued at R400 million Altech today announced that it has secured in excess of R400 million worth of new orders as they move into the 2007 financial year, this in addition to pipeline business already secured during the 2006 year. These include a significant new customer for digital set-top-boxes in India, additional Multichoice orders on the back of the successful 2006 PVR rollout, an asset tracking order for Spoornet, and an emergency service Digital Tetra wireless communication system for the City of Cape Town Metropolitan Council. | 27 February 2007 |
