{"id":40878,"date":"2013-06-28T12:19:54","date_gmt":"2013-06-28T10:19:54","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=40878"},"modified":"2013-06-28T12:42:07","modified_gmt":"2013-06-28T10:42:07","slug":"altech-to-delist-in-august","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/40878\/altech-to-delist-in-august\/","title":{"rendered":"Altech to delist in August"},"content":{"rendered":"

JSE-listed Allied Electronics Corp (Altron<\/a>) says it\u00a0anticipates delisting Allied Technologies (Altech<\/a>)\u00a0on 20 August 2013.<\/p>\n

Altron made an offer through its wholly-owned\u00a0subsidiary, Altron Finance Proprietary Limited, to acquire the entire issued ordinary\u00a0share capital of Altech in May.<\/p>\n

The move has been widely expected by the market following a poor run of results from Altech.<\/p>\n

Altron will pay R47.50 in cash for every Altech Share. It already\u00a0owns a 62% stake in Altech.<\/p>\n

A general meeting of Altron shareholders will be held on 26 July 2013 to vote on the proposal.<\/p>\n

The aim of the transaction is to\u00a0create a single listed point of entry into the Altron Group, and simplify the corporate and operating structure.<\/p>\n

According to Altron, the Altech brand will remain in place, while management structures have as yet not been\u00a0finalised.<\/p>\n

In midday trade on the JSE, Altech advanced\u00a00.64% to\u00a0to R45.80.<\/p>\n

More on Altron and Altech<\/h3>\n

Altech delisting expected in July<\/strong><\/a><\/p>\n

Altron to take full control of Altech<\/strong><\/a><\/p>\n

Altech shares yo-yo ahead of Altron results<\/strong><\/a><\/p>\n

Altron trims dividend payout<\/strong><\/a><\/p>\n

Altech looks east for new growth<\/strong><\/a><\/p>\n

Altech suffers heavy losses<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

JSE-listed Allied Electronics Corp (Altron) says it anticipate delisting Allied Technologies (Altech) on 20 August 2013.<\/p>\n","protected":false},"author":10,"featured_media":3569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[25,311,309],"class_list":["post-40878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-active","tag-altech","tag-altron"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40878","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=40878"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40878\/revisions"}],"predecessor-version":[{"id":40881,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/40878\/revisions\/40881"}],"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=40878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=40878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=40878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}