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AECI earnings increase
AECI has converted shares held by Kagiso Tiso Holdings in the explosives business AEL and has also introduced various share trusts for its employees and the communities where it is active in a deal that is valued at R1,2 billion, reports IOL. In terms of the deal, Kagiso Tiso's 25,1% holding in the mining explosives company AEL will be converted to 4,18% holding in AECI.
A share trust for permanent employees will acquire an 8% shareholding in the company and another 3,5% is reserved for the AECI Community Development and Educational Trust to improve science education and uplift communities near AECI plants.
Read the full story on IOL.
Download the AECI half-yearly report (Size: 376 KB) or go to www.aeci.co.za
