Tongaat Hulett’s shareholders to lose investment as company delists from JSE
The company breached the JSE Listings Requirements in 2022.
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The company breached the JSE Listings Requirements in 2022.
Tongaat Hulett has long recognised the importance of skills development and youth development in the rural communities where it operates.
Small-scale growers will be paid in full first, while commercial and other growers will receive payments in stages.
'The parties have chosen to instead work together to keep Tongaat Hulett operating and to protect the value it holds for its employees.'
The coalition says its proposal is built around the long-term sustainability of the fragile company, with its members listed as equity partners.
But the IDC and dtic must 'come to the party' and Vision is not interested in Tongaat 'for a quick buck'
Government believes Tongaat Hulett remains capable of being stabilised and restructured.
Farmers fear missed milling windows could wipe out months of work.
Forensic findings revealed years of inflated earnings and hidden risks.
The potential liquidation of Tongaat Hulett is about more than just the company.