Edition:
United Kingdom

Murray & Roberts Holdings Ltd (MURJ.J)

MURJ.J on Johannesburg Stock Exchange

1,789.00ZAc
20 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Murray & Roberts Updates On Application To Competition Tribunal On Voting Rights Of Aton
Monday, 18 Jun 2018 

June 18 (Reuters) - Murray & Roberts Holdings Ltd ::UPDATE ANNOUNCEMENT REGARDING APPLICATION TO THE COMPETITION TRIBUNAL CONCERNING VOTING RIGHTS OF ATON.IN TERMS OF COMPETTITION COMMISION'S DECISION, ATON'S PRELIMINARY APPLICATION TO DISMISS CO'S APPLICATION DUE TO LACK OF URGENCY DISMISSED.COMPETITION TRIBUNAL DENIED FULL RELIEF SOUGHT BY BOARD.BOARD WILL CONTINUE TO SEEK TO ENGAGE ATON REGARDING TRANSACTION WITH OBJECTIVE TO SOLICIT ITS SUPPORT FOR POTENTIAL TRANSACTION.RESTRAINED ATON, AGENTS FROM VOTING SHARES, REPRESENTING OVER 50% LESS ONE VOTE, CAST ON RESOLUTION TO BE CONSIDERED AT SHAREHOLDER MEETING.  Full Article

Aveng Says Remain Of Opinion There Is Merit In Potential Combination With Murray & Roberts
Tuesday, 29 May 2018 

May 29 (Reuters) - Aveng Ltd ::AVENG BOARD REMAIN OF OPINION THAT THERE IS MERIT IN POTENTIAL COMBINATION OF AVENG AND MURRAY & ROBERTS.POTENTIAL COMBINATION OF BUSINESSES IS IN BEST INTEREST OF COMPANY AND ITS STAKEHOLDERS.CONTINUING TO ENGAGE WITH MURRAY & ROBERTS BOARD AND WILL CONTINUE PROGRESSING M&R TRANSACTION.REMAINS COMMITTED TO IMPLEMENTATION OF PROPOSED RIGHTS OFFER.ANTICIPATED THAT AVENG WILL UTILISE A FURTHER R200 MILLION BANK DEBT ON PROPOSED RIGHTS OFFER.CURRENTLY FINALISING FUNDING TERM SHEET WITH ITS FUNDING BANKS.CONTINUES TO PURSUE SALE OF IDENTIFIED ASSETS AND MADE PROGRESS IN DISPOSALS OF AVENG GRINAKER-LTA, AVENG TRIDENT STEEL AND OTHER PROPERTIES.ACCELERATED PREPARATION PROCESS FOR SALE OF AVENG MANUFACTURING BUSINESSES.  Full Article

BRIEF-ATON Says Will Not Support Murray & Robert's Proposed Deal With Aveng
Friday, 18 May 2018 

Repeats without change to text:ATON GMBH - HAS NOTED MURRAY & ROBERT'S ANNOUNCEMENT TODAY REGARDING ITS POTENTIAL COMBINATION WITH AVENG LIMITED.ATON GMBH - "POTENTIAL COMBINATION CLEARLY DEMONSTRATES THAT MURRAY & ROBERT'S MANAGEMENT IS PUTTING ITS INTERESTS AHEAD OF THOSE OF SHAREHOLDERS & OTHER STAKEHOLDERS".ATON - "ANNOUNCEMENT REFLECTS AN UNDERDEVELOPED AND RUSHED OUTLINE OF A POTENTIAL TRANSACTION WITH A SPECULATIVE RATIONALE".ATON - HAS NOT HAD ANY ENGAGEMENT WITH EITHER M&R OR AVENG ON THE TRANSACTION.ATON - "AVENG TRANSACTION WOULD IMPOSE SIGNIFICANT AND UNPREDICTABLE RISK TO M&R".ATON - "M&R ARE UNABLE OR ARE UNWILLING TO DISCLOSE POSSIBLE IMPACT OF AVENG TRANSACTION".ATON- "THERE IS NO BASIS FOR PROPOSED GENERAL MEETING IN RELATION TO POTENTIAL TRANSACTION AT THIS STAGE NEITHER WILL PROPOSED TRANSACTION BE SUPPORTED BY ATON".  Full Article

Murray & Roberts says Aveng, Co Reached In Principle Agreement Regarding Combination
Friday, 18 May 2018 

May 18 (Reuters) - Murray & Roberts Holdings Ltd ::CO AND AVENG HAVE REACHED IN PRINCIPLE AGREEMENT REGARDING PROPOSED TERMS OF A POTENTIAL COMBINATION OF MURRAY & ROBERTS AND AVENG.PROPOSES TO MAKE AN ALL SHARE OFFER FOR ENTIRE ISSUED AND TO BE ISSUED SHARE CAPITAL OF AVENG ON PROPOSED TERMS.PROPOSES TO ACCELERATE REDEMPTION OF AVENG'S OUTSTANDING R2.0 BILLION CONVERTIBLE BONDS, MATURING IN 2019, AT PAR VALUE.NO FORMAL OFFER HAS BEEN MADE YET BY MURRAY & ROBERTS.BOARD OF DIRECTORS OF MURRAY & ROBERTS WILL BE ENGAGING WITH ATON GMBH REGARDING MERITS OF POTENTIAL TRANSACTION.IF FORMAL OFFER IS MADE, PROPOSED AGGREGATE VALUE THAT WILL BE ATTRIBUTABLE TO POTENTIAL OFFER SHARES AT THAT TIME WILL BE R1.0 BILLION.PROPOSES TO EARLY REDEEM AVENG'S OUTSTANDING CONVERTIBLE BONDS MATURING IN 2019 BY AMENDING TERMS AND CONDITIONS OF 2019 BONDS.  Full Article

Aveng Proposes To Raise Up To R500 Mln Through Proposed Rights Offer
Friday, 18 May 2018 

May 18 (Reuters) - Aveng Ltd ::IN LIGHT OF M&R TRANSACTION, AVENG PROPOSES TO RAISE UP TO R500 MILLION THROUGH PROPOSED RIGHTS OFFER IN ORDER TO FUND RETAINED CASH.MURRAY & ROBERTS INDICATED IT IS SUPPORTIVE OF AVENG PROCEEDING TO IMPLEMENT PROPOSED RIGHTS OFFER, IRRESPECTIVE OF WHETHER M&R DEAL PROCEEDS OR NOT.AVENG - MURRAY & ROBERTS INDICATED IT IS SUPPORTIVE OF CO PROCEEDING TO IMPLEMENT PROPOSED RIGHTS OFFER, IRRESPECTIVE OF WHETHER M&R TRANSACTION PROCEEDS OR NOT.  Full Article

Aton GmbH Says Continues Commitment To Acquire Majority Of Murray & Roberts
Friday, 11 May 2018 

May 11 (Reuters) - ATON GmbH::ATON GMBH - CONFIRMED GOOD PROGRESS FOLLOWING OPENING OF OFFER TO ACQUIRE MAJORITY OF MURRAY & ROBERTS FOR AN OFFER PRICE OF R15.00 PER M&R SHARE.ATON GMBH SAYS ON TRACK TO FILE MERGER NOTIFICATION TO COMPETITION COMMISSION BY 24 MAY 2018.  Full Article

Murray & Roberts Says Independent Board Recommends Shareholders Reject Aton Offer
Friday, 20 Apr 2018 

April 20 (Reuters) - Murray & Roberts Holdings Ltd ::MUR - INDEPENDENT BOARD RECOMMENDATION AND POSTING OF RESPONSE CIRCULAR REGARDING CONDITIONAL OFFER BY ATON GMBH.INDEPENDENT BOARD RECOMMENDS THAT MURRAY & ROBERTS' SHAREHOLDERS REJECT ATON OFFER.  Full Article

Murray & Roberts Says PIC, Aton Raises Stake, Clients Of Allan Gray Cuts
Tuesday, 17 Apr 2018 

April 17 (Reuters) - Murray & Roberts Holdings Ltd ::PIC ACQUIRED ADDITIONAL STAKE, TOTAL OF ALL BENEFICIAL INTEREST HELD BY PIC IS NOW AT 20.157%.TOTAL OF ALL BENEFICIAL INTEREST HELD BY ATON AT IN CO IS NOW AT 39.8 PERCENT.CLIENTS OF ALLAN GRAY HAVE DISPOSED AN INTEREST IN CO, SUCH THAT TOTAL INTEREST IN ORDINARY SHARES OF CO HAS REDUCED TO 4.3280%.  Full Article

Aton GmbH Announces Acquisition of Ordinary Shares of Murray & Roberts
Friday, 13 Apr 2018 

April 13 (Reuters) - Aton GmbH::HAD AGREED TO ACQUIRE FROM ALLAN GRAY, 29 MILLION ISSUED ORDINARY SHARES IN MURRAY & ROBERTS HOLDINGS LTD AT A PURCHASE PRICE OF ZAR15.00.IN TERMS OF FORWARD SALE AGREEMENT, ACQUISITION BY ATON AT OF SALE SHARES TOOK EFFECT ON WEDNESDAY, 11 APRIL 2018.WILL HOLD 176.1 MILLION ORDINARY SHARES IN M&R, REPRESENTING APPROXIMATELY 39.6% OF ENTIRE ISSUED SHARE CAPITAL OF M&R.  Full Article

Aton Settles Agreement To Acquire 13.7 Mln Shares In Murray & Roberts
Thursday, 29 Mar 2018 

March 29 (Reuters) - Aton GMBH::ATON HAD EARLIER REACHED AN AGREEMENT TO ACQUIRE 13.7 MILLION ORDINARY SHARES IN M&R​.M&R SHAREHOLDERS ADVISED ACQUISITION OF M&R SHARES AT PURCHASE PRICE OF ZAR15.00 PER SHARE WAS SETTLED ON 29 MARCH 2018 AND IS NOW COMPLETE​.ATON NOW HOLDS 147.1 MILLION M&R SHARES REPRESENTING APPROXIMATELY 33.1% OF ENTIRE ISSUED SHARE CAPITAL OF M&R​.ATON AT REACHED AGREEMENT WITH ALLAN GRAY WHERE ALLAN GRAY TO SELL TO ATON AT, 29 MILLION ISSUED ORDINARY SHARES IN M&R AT PURCHASE PRICE OF ZAR15​.  Full Article

UPDATE 2-South Africa’s Aveng shares leap as M&R moves closer to tie-up

JOHANNESBURG, June 19 Shareholders in South Africa's Murray & Roberts voted on Tuesday for the company to look into a potential tie up with construction rival Aveng, sending Aveng's shares around 25 percent higher.