Edition:
India

Allied Electronics Corporation Ltd (AELJ.J)

AELJ.J on Johannesburg Stock Exchange

2,305.00ZAc
18 Sep 2020
Change (% chg)

-90.00 (-3.76%)
Prev Close
2,395.00
Open
2,336.00
Day's High
2,346.00
Day's Low
2,154.00
Volume
923,462
Avg. Vol
268,060
52-wk High
2,844.00
52-wk Low
1,390.00

Latest Key Developments (Source: Significant Developments)

Allied Electronics Corp FY HEPS Increased By 2% To 182 Cents
Thursday, 14 May 2020 

May 14 (Reuters) - Allied Electronics Corporation Ltd ::FY HEPS INCREASED BY 2% (6%**) TO 182 CENTS.FY REVENUE INCREASED BY 6% TO R16.7BN ON A STATUTORY BASIS.ALLIED ELECTRONICS CORP- FY OVERALL NET DEBT REDUCED TO R1.1BN (INCLUDING DEFERRED DISPOSAL RECEIPTS), AGAINST R1.3BN AS AT END OF FY19.ALLIED ELECTRONICS CORPORATION - PRUDENT TO PRESERVE CASH AND TO DECLARE DIVIDEND 40% LESS THAN WOULD OTHERWISE HAVE BEEN DECLARED.A FINAL CASH DIVIDEND OF 26 CENTS PER SHARE HAS BEEN DECLARED FOR FINANCIAL YEAR.COVID-19 IS EXPECTED TO HAVE A NEGATIVE IMPACT FOR YEAR AHEAD.ALLIED ELECTRONICS CORPORATION - CALCULATED AS PERCENTAGE OF FY2020 REVENUE, EXPECT MID SINGLE-DIGIT REDUCTION IN REVENUE DUE TO COVID-19.IMPLEMENTED A NUMBER OF COST SAVINGS INITIATIVES FOR 2021 FINANCIAL YEAR.ALLIED ELECTRONICS CORPORATION - REVERSING 2020 SALARY INCREASES FOR SOUTH AFRICAN STAFF.ALLIED ELECTRONICS CORPORATION - COST SAVINGS INITIATIVES ARE ESTIMATED TO SAVE IN REGION OF R500M.  Full Article

Allied Electronics Corporation Resolved To Pursue Secondary Listing Of Bytes UK On JSE
Thursday, 2 Apr 2020 

April 2 (Reuters) - Allied Electronics Corporation Ltd ::RESOLVED TO PURSUE A POTENTIAL LISTING AND POTENTIAL SHARE OFFERING OF BYTES UK ON LONDON STOCK EXCHANGE.RESOLVED TO PURSUE A SECONDARY LISTING OF BYTES UK ON JOHANNESBURG STOCK EXCHANGE.TO PURSUE AN UNBUNDLING OF REMAINING ALTRON SHAREHOLDING IN BYTES UK, POST POTENTIAL SHARE OFFERING TO ALTRON SHAREHOLDERS.PRIMARY LISTING OF ALTRON ON MAIN BOARD OF JSE WILL BE RETAINED..  Full Article

SA's Competition Commission Approves Altron-Ubusha Deal
Wednesday, 4 Mar 2020 

March 4 (Reuters) - SA'S COMPETITION COMMISSION ::SA'S COMPETITION COMMISSION - APPROVED ALTRON'S ACQUISITION OF UBUSHA TECHNOLOGIES.  Full Article

Allied Electronics Says Conditions Precedent To Gydan Investments Deal Either Fulfilled Or Waived
Wednesday, 4 Mar 2020 

March 4 (Reuters) - Allied Electronics Corporation Ltd ::ALLIED ELECTRONICS - ALL CONDITIONS PRECEDENT TO GYDAN INVESTMENTS DEAL SET OUT IN SHARE SALE AGREEMENT EITHER BEEN FULFILLED OR WAIVED.  Full Article

Allied Electronics Says Coronation Asset Management Now Holds 25.13% Of In Co
Thursday, 20 Feb 2020 

Feb 20 (Reuters) - Allied Electronics Corporation Ltd ::CORONATION ASSET MANAGEMENT NOW HOLDS 25.13% OF ALTRON'S TOTAL ISSUED ORDINARY SHARES.  Full Article

Allied Electronics Says HY HEPS From Cont Ops Up 4% To 73 Cents
Thursday, 24 Oct 2019 

Oct 24 (Reuters) - Allied Electronics Corporation Ltd ::HY REVENUE FROM CONTINUING OPERATIONS UP 8% TO R8.53 BILLION (UP 17% EXCLUDING IFRS 15 - REVENUE FROM CONTRACTS WITH CUSTOMERS - ADJUSTMENTS).HY EBITDA FROM CONTINUING OPERATIONS INCREASED BY 19% TO R803 MILLION (UP 9% EXCLUDING R67 MILLION IFRS 16 - LEASING - ADJUSTMENTS).HY HEPS FROM CONTINUING OPERATIONS INCREASED BY 4% TO 73 CENTS.HY BASIC EARNINGS PER SHARE (EPS) FROM CONTINUING INCREASED BY 4% TO 76 CENTS.INTERIM DIVIDEND DECLARED OF 29 CENTS PER SHARE.REMAIN ON TRACK TO DOUBLE EBITDA BY FY22.IN HY GROUP EXPERIENCED CHALLENGES IN ONE OF ITS OPERATIONS.INTERNAL INVESTIGATIONS FOLLOWING PRECAUTIONARY SUSPENSION OF KEY EXECUTIVES REMAINS ONGOING.INTEGRATION OF ALTRON KARABINA, WHICH WAS ACQUIRED DURING FY19, WAS SLOWER THAN EXPECTED.  Full Article

Allied Electronics Says Placed Unit Executives On Pre-Cautionary Suspension
Friday, 6 Sep 2019 

Sept 6 (Reuters) - Allied Electronics Corporation Ltd ::ALTRON PLACES SUBSIDIARY EXECUTIVES ON PRE-CAUTIONARY SUSPENSION.3 SENIOR EXECUTIVES OF ALTRON NEXUS PLACED ON PRE-CAUTIONARY SUSPENSION AS INVESTIGATION SHOWED "POTENTIAL INTERNAL IRREGULARITIES".PRELIMINARY FINDINGS REVEALED POTENTIAL DEVIATION FROM PROCUREMENT PROCESSES INVOLVING ESTIMATED R23 MILLION.PRELIMINARY FINDINGS REVEALED POTENTIAL DEVIATION FROM EARLY PROFIT RECOGNITION OF ABOUT R20 MILLION IN 2018 FINANCIAL YEAR.AMOUNTS INVOLVED IN INVESTIGATION NOT MATERIAL TO ALTRON'S FINANCIAL POSITION.PLANS PUT IN PLACE TO ENSURE BUSINESS CONTINUITY AT ALTRON NEXUS.FOLLOWING DUE PROCESS AND THREE EXECUTIVES MAY GO THROUGH A DISCIPLINARY HEARING, OVERSEEN BY AN INDEPENDENT CHAIRMAN.  Full Article

Allied Electronics Corp Sees FY Total Operations HEPS Between 180 Cents - 196 Cents
Thursday, 11 Apr 2019 

April 11 (Reuters) - Allied Electronics Corporation Ltd ::JSE: AEL - TRADING STATEMENT FOR THE FINANCIAL YEAR ENDED 28 FEBRUARY 2019.ALLIED ELECTRONICS CORPORATION LTD - SEES FY HEPS FROM TOTAL OPERATIONS TO BE BETWEEN 180 CENTS - 196 CENTS.ALLIED ELECTRONICS CORPORATION LTD - SEES FY CONTINUING OPERATIONS HEPS BETWEEN 170-186 CENTS.ALLIED ELECTRONICS CORPORATION - FY LIKE-FOR-LIKE COMPARISON GROUP EBITDA FROM CONTINUING OPERATIONS IS EXPECTED TO INCREASE BY BETWEEN 28% AND 35%.  Full Article

Allied Electronics' Acting CFO Tim Jacobs Resigns
Thursday, 18 Oct 2018 

Oct 18 (Reuters) - Allied Electronics Corporation Ltd ::RESIGNATION AND APPOINTMENT OF ACTING CHIEF FINANCIAL OFFICER.TIM JACOBS HAS RESIGNED AS ACTING CHIEF FINANCIAL OFFICER.RECRUITMENT PROCESS OF IDENTIFYING A PERMANENT CFO IS PROGRESSING.ANDREW HOLDEN, CURRENT CHIEF OPERATING OFFICER OF ALTRON WILL ASSUME JOINT ROLE OF COO & ACTING CFO ON OCT 19.  Full Article

BRIEF-Allied Electronics Corp FY HEPS Increased By 2% To 182 Cents

* ALLIED ELECTRONICS CORP- FY OVERALL NET DEBT REDUCED TO R1.1BN (INCLUDING DEFERRED DISPOSAL RECEIPTS), AGAINST R1.3BN AS AT END OF FY19