Key Developments: Labat Africa Ltd (LABJ.J)

LABJ.J on Johannesburg Stock Exchange

13.00ZAc
16 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Labat Africa Ltd gives FY 2014 earnings outlook
Friday, 30 May 2014 10:22am EDT 

Labat Africa Ltd:Expects FY 2014 basic loss per share for continuing operations to be between (3.0) cents and (3.1) cents per share.Expects FY 2014 loss per share for discontinuing operations to be zero.Expects FY 2014 headline earnings per share to be between 1.20 cents to 1.25 cents per share.  Full Article

Labat Africa Ltd Updates On Proposed Disposal Of The SAMES
Tuesday, 19 Nov 2013 07:41am EST 

Labat Africa Ltd announced that with reference to the announcement made earlier, in relation to offer received for the SAMES property from a related party, Zatoblox Proprietary Limited, for a purchase consideration of ZAR17 million. The Company now announced it has received a higher cash offer of ZAR18.8 million from Morgan Creek Properties 311 CC (Morgan Creek) for the purchase of the SAMES Property. Morgan Creek is not a related party to Labat. Labat has accepted the offer on November 6, 2013. Accordingly, the offer from Zatoblox will be terminated. The SAMES property is regarded as being non-core to the current and future business of Labat and will be sold by Sames Properties, a wholly owned subsidiary of Labat. Any capital gains tax arising on the Disposal will be settled by Sames Properties. Any transfer duties will be payable by the purchaser of the SAMES Property. The sale proceeds will be applied towards the repayment of debt, funding working capital requirements, and the furthering of local activities or investments to the extent that cash is available.  Full Article

Labat Africa Ltd Announces Rights Offer And Proposed Disposal Of Property
Thursday, 10 Oct 2013 01:05am EDT 

Labat Africa Ltd announced that the Company will proceed with a partially underwritten renounceable rights offer to raise ZAR30,331,803 through the issue of 202,212,023 Shares at an issue price of ZAR0.15 per Share, in the ratio of 100 Rights Offer Shares for every 100 Shares held, at a subscription price of ZAR0.15 per share (the rights offer). 202,212,023 Shares will be offered for subscription to Shareholders recorded in the Register at the close of trade on a date that is yet to be announced. Qualifying Shareholders will receive rights to subscribe for rights offer Shares on the basis of 100 new Shares for every 100 Shares held on the Record Date at the rights offer Price. The rights offer will raise equity capital of ZAR30,331,803 if it is fully subscribed. The Company also announced with reference to the announcement made earlier, where in the Company was considering the disposal of its SAMES property, which would require the approval of shareholders in a general meeting. The Company now announced that it received a firm offer dated October 03, 2013 for the SAMES property from a related party. The SAMES property is regarded as being non-core to the current and future business of Labat. A decision has been taken to dispose of the property at a minimum consideration of ZAR17 million in cash. The property will be sold by Sames Properties, a wholly owned subsidiary of Labat. Any capital gains tax arising on the Disposal will be settled by Sames Properties.  Full Article

Labat Africa Ltd Does Not Recommend Dividend
Monday, 3 Jun 2013 04:05am EDT 

Labat Africa Ltd announced that in line with group policy, no dividend has been declared.  Full Article

Labat Africa Ltd Comments On FY 2013 EPS Guidance
Thursday, 30 May 2013 11:12am EDT 

Labat Africa Ltd announced that for fiscal 2013, it expects that the basic earnings per share (EPS) for continuing operations is to decrease by between 90% and 110%, basic EPS for discontinuing operations is to decrease by between 90% and 110% and the headline EPS is expected to decrease by between 90% and 110%, from the audited figures of fiscal 2012.  Full Article

Labat Africa Ltd Announces Execution Of Letter Of Intent In Respect Of Proposed Acquisition
Monday, 20 May 2013 01:05am EDT 

Labat Africa Ltd announced with reference to the announcement made earlier, the Company now announced that Labat has signed a joint letter of intent with Amicitia Holdings Limited (Amicitia) for the purchase by Labat from Amicitia of all of the issued shares in Palantina Petroleum Limited (the Proposed Acquisition). The Proposed Acquisition, which will be subject to Palatina‚Äôs execution of various Petroleum Agreements, will result in Labat acquiring a majority participating interest in five Petroleum Exploration Blocks, Off-shore Namibia.  Full Article

Labat Africa Ltd Does Not Recommend Dividend
Friday, 30 Nov 2012 12:05am EST 

Labat Africa Ltd announced that in line with group policy, no dividend has been declared. When deemed appropriate, a dividend will be declared.  Full Article

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