{"id":34139,"date":"2013-03-22T12:53:30","date_gmt":"2013-03-22T10:53:30","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=34139"},"modified":"2013-04-12T17:15:04","modified_gmt":"2013-04-12T15:15:04","slug":"altech-climbs-4-5-on-negotiation-talks","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/34139\/altech-climbs-4-5-on-negotiation-talks\/","title":{"rendered":"Altech climbs 4.5% on negotiation talks"},"content":{"rendered":"<p>Shares in\u00a0<a title=\"JSE\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1663-JSE-Limited\">JSE<\/a>-listed\u00a0<a title=\"Allied Technologies Limited (Altech, ALT)\" href=\"http:\/\/businesstech.co.za\/forum\/showthread.php\/1725-Altech\">Allied Technologies Limited<\/a>\u00a0(Altech) advanced 4.56% or R1.64 to R37.60 on the JSE in afternoon trade on Friday (22 March) after it noted that it was in negotiations.<\/p>\n<blockquote><p>\u201cShareholders are advised that the company has entered into negotiations which if successfully concluded may have a material effect on the company\u00b4s securities.\u00a0 Accordingly shareholders are advised to exercise caution when dealing in the company\u00b4s securities until a full announcement is made,\u201d Altech said in a statement released on SENS.<\/p><\/blockquote>\n<p>Similarly, Altech\u2019s parent company, Allied Electronics (Altron) delivered a cautionary announcement of its own. Shares in Altron lifted 20 cents to R21.70.<\/p>\n<p>Shares in Altech have almost halved over the past three years, largely as a result of its operations in East and West Africa.<\/p>\n<p>The group disposed of its East African operations in February, having offloaded a 75% stake in its West Africa business in September.<\/p>\n<p>Due to impairments at Altech, Altron has also suffered financially. In a trading statement issued at the end of January, Altron said it anticipated an estimated loss of R666 million realised at Altech on the disposal of its East Africa business.<\/p>\n<p>Altron accordingly advised that it expected its basic earnings per share for the year ending February 2013 to be more than 100% lower than in 2012, \u201cpredominantly as a result of the impairments in the first half at Altech, as well as the aforementioned losses arising from the Altech East Africa transactions\u201d.<\/p>\n<h3 class=\"my-4\">More on Altech and Altron<\/h3>\n<p><a title=\"Altech offloads West Africa operation\" href=\"http:\/\/businesstech.co.za\/news\/telecommunications\/23089\/altech-offloads-west-africa-operation\/\"><strong>Altech offloads West Africa operation<\/strong><\/a><\/p>\n<p><a title=\"Altech disposes of East Africa ops\" href=\"http:\/\/businesstech.co.za\/news\/telecommunications\/30716\/altech-disposes-of-east-africa-ops\/\"><strong>Altech disposes of East Africa ops<\/strong><\/a><\/p>\n<p><a title=\"Altech shares in free-fall\" href=\"http:\/\/businesstech.co.za\/news\/telecommunications\/31295\/altech-shares-in-free-fall\/\"><strong>Altech shares in free-fall<\/strong><\/a><\/p>\n<p><a title=\"Altron results marred by Altech impairments\" href=\"http:\/\/businesstech.co.za\/news\/it-services\/23866\/altron-results-marred-by-altech-impairments\/\"><strong>Altron results marred by Altech impairments<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares in Altech advanced 4.56% or R1.64 to R37.60 on the JSE in afternoon trade on Friday after it noted that it was in negotiations.<\/p>\n","protected":false},"author":10,"featured_media":3569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31,21],"tags":[25,5437,2496,311,309],"class_list":["post-34139","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","category-telecommunications","tag-active","tag-allied-electronics","tag-allied-technologies-limited","tag-altech","tag-altron"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/34139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=34139"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/34139\/revisions"}],"predecessor-version":[{"id":34144,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/34139\/revisions\/34144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/3569"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=34139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=34139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=34139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}