Ardor - formerly Decillon Limited - is planning a reverse listing on the JSE.
Ardor has secured R359m from a European based private equity investment company, which confirmed that it is finalising its banking processes in order to make the investment. The receipt of the investment is expected within the next 14 days‚ Ardor said.
Once the investment has been made, Ardor will buy the minimum portfolio and bring to an end the suspension of trade in the company's shares on the JSE.
The listing remains subject to the transfer of the minimum portfolio.
Following the recent announcement of the new proposed tax legislation for Real Estate Investment Trusts (REITs)‚ Ardor has decided to obtain advice to establish the benefits of having the company classified as a REIT.
The salient dates for the issue and listing of the new shares in Ardor to be allotted and issued pursuant to the acquisition of the minimum portfolio will be announced once the transfer of the minimum portfolio has been finalised‚ it added.
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
