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Could Altron look at unbundling Netstar?
Altron CEO says it’s ‘interesting’ that separately-listed Bytes, has a market value higher than Altronâs.
By Duncan McLeod
18 Dec 2020 10:34
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Image: Moneyweb
Fresh from the successful listing of its former subsidiary, Bytes Technology Group, in the UK, could Altron look at an unbundling of Netstar next as it seeks to unlock further value for shareholders?
Bytes was listed on the main board of the London Stock Exchange on Thursday with a secondary listing on the JSE. Altron said more than R7-billion in shareholder value was realised through the Bytes demerger.
SJP announces Threadneedle founder as next chairman
Paul Manduca is currently chairman of Prudential and Templeton Emerging Markets Investment Trust
St James’s Place has announced the individual due to succeed Iain Cornish as chairman of the wealth management group.
Paul Manduca is set to step into the role at the end of the company’s next annual general meeting on 17 May 2021, subject to regulatory approval. He will join the board as a non-executive director and chairman designate on 1 January.
Cornish joined the SJP board in 2011 and became chairman in 2018. He will step down as a director at the AGM.
Why Altron could unbundle Netstar next
Altron CEO Mteto Nyati
Fresh from thesuccessful listing of its former subsidiary, Bytes Technology Group, in the UK, could Altron look at an unbundling of Netstar next as it seeks to unlock further value for shareholders?
Bytes was listed on the main board of the London Stock Exchange on Thursday with a secondary listing on the JSE. Altron said more than R7-billion in shareholder value was realised through the Bytes demerger.
Now, with Altron confirming in a statement that it is considering further options to unlock shareholder value, the attention of its board and management team may turn next to Netstar, its vehicle tracking and recovery business, whose competitors including Cartrack and Mix Telematics are worth more than the entire Altron group.
UK regulator announces temporary registration regime, extends operating deadline to July 9 for existing crypto businesses
Quick Take
The U.K.’s Financial Conduct Authority (FCA) has just announced a “temporary registration regime” for existing crypto businesses.
The new regime allows crypto firms that have applied for registration to continue operating until July 9, 2021.
The previous deadline was January 10, 2021.
The U.K. s Financial Conduct Authority (FCA) has just announced a temporary registration regime for existing crypto businesses.
The new regime allows crypto firms that have applied for registration to continue operating until July 9, 2021. The previous deadline was January 10 of that year.