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DISPOSAL OF BERLIN SHOPPING CENTRE FOR €30.8 MILLION Hermann Quartier sale will conclude €95 million of non-core disposals in the financial year to date at an average of 18% above March valuation, providing further capital to recycle into multi-let industrial Stenprop, the UK multi-let industrial ( MLI ) property company, announces that it has exchanged contracts on the sale of its freehold interest in the Hermann Quartier shopping centre in Berlin, Germany (the disposal ) to Munich based firm ILG Capital GmbH, acting on behalf of the regulated special property fund ILG Einkaufen D managed by IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH, for € 30.8 million. The disposal price is in line with the 30 September book value^ and reflects a 19% premium to the 31 March 2020 valuation.
JSE-listed Altron completes Bytes demerger, R10.9b windfall for shareholders
17 December 2020 7:01 PM
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Altron shareholders will get billions in the form of Bytes ordinary shares and cash. Bruce Whitfield interviews CEO Mteto Nyati.
The JSE-listed company is headquartered in South Africa. Bytes has been admitted. to unconditional trading on the Main Market of the London Stock Exchange, and the Main Board of the Johannesburg Stock Exchange by way of a secondary inward listing.
The move has created a windfall for Altron shareholders.
As a result of the demerger of Bytes, Altron shareholders will receive, after tax and transaction costs, a consideration of approximately GBP542m (c.R10.9 billion) in the form of Bytes ordinary shares and cash.
Dec 17, 2020
Today, Bytes has been admitted to the premium listing segment of the official list of the UK’s Financial Conduct Authority, to unconditional trading on the Main Market of the London Stock Exchange, and the Main Board of the Johannesburg Stock Exchange by way of a secondary inward listing.
This marks the completion of the demerger of the Bytes group from the Altron Group, a transaction which Altron announced to the market in April 2020. The achieved price of £2.70 per Bytes ordinary share results in a market capitalisation at the Issue Price of approximately £647-million (about R13 billion) on Admission. The Issue Price was in the top half of the previously communicated price range of £2.40 to £2.90 per Bytes ordinary share.
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