CEO Stephen Van Der Walt says the listing is a step in the group's strategy to unlock its growth potential and diversify into manufacturing and technology that is related to its current core business of print. This is reflected in the name change to Novus, which in Latin means 'new' and is consistent with its new strategy, new prospects and new technology.
"With such strong foundations in place and with significant growth potential on offer through extending and diversifying our product range in the sub-Saharan region, we believe the time is right to take the next step and explore diversification directly linked to our core competencies while consolidating market positions in our current facilities.
"Subject to JSE approval, the group intends to trade its shares under the 'Diversified Industrials' sector classification on the JSE, alongside companies with a similar diversification strategy and mindset. We are confident of our growth prospects and it will be our intention to consider the payment of dividends to shareholders as the group sees fit."
According to Van Der Walt, the listing should enable Novus Holdings and its subsidiaries to attract and retain key and talented staff and build a strong brand presence while diversifying in sub-Saharan Africa.
The board of Novus Holdings is intended to comprise of 11 directors of which six will be independent non-executive directors. Two of the 11 directors will be appointed from the majority shareholder, Media24.
