Tongaat Hulett is leaving the JSE after 74 years, and its shareholders are getting nothing for it
The JSE will strike the sugar producer off its main board on 3 November, and the company says shareholders should expect nothing from what is left.
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The JSE will strike the sugar producer off its main board on 3 November, and the company says shareholders should expect nothing from what is left.
The company breached the JSE Listings Requirements in 2022.
Tongaat Hulett, one of South Africa’s biggest sugar producers and agricultural businesses, will be removed from the Johannesburg Stock Exchange (JSE).
Tongaat Hulett’s latest lifeline is set to expire on Thursday, with parties still in talks over the sugar producer’s fate.
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.