Edition:
India

Murray & Roberts Holdings Ltd (MURJ.J)

MURJ.J on Johannesburg Stock Exchange

1,601.00ZAc
18 May 2018
Change (% chg)

62.00 (+4.03%)
Prev Close
1,539.00
Open
1,520.00
Day's High
1,609.00
Day's Low
1,479.00
Volume
631,112
Avg. Vol
869,844
52-wk High
1,840.00
52-wk Low
870.00

Latest Key Developments (Source: Significant Developments)

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

Northam Platinum Says ‍Murray & Roberts Cementation Work Stoppage At Northam's Booysendal North Mine​
Tuesday, 27 Mar 2018 

March 27 (Reuters) - Northam Platinum Ltd ::‍MURRAY & ROBERTS CEMENTATION LIMITED (MRC) WORK STOPPAGE AT NORTHAM'S BOOYSENDAL NORTH MINE (BOOYSENDAL)​.CONFIRMS ABOUT 750 EMPLOYEES AT BOOYSENDAL MINE EMBARKED ON UNPROTECTED WORK STOPPAGE WITH EFFECT FROM MARCH 26 ​.‍MRC EMPLOYEES APPROACHED BY NORTHAM TO BECOME FULL-TIME EMPLOYEES IN A MOVE FOR BOOYSENDAL TO BECOME AN OWNER-OPERATING MINE​.‍AFFECTED EMPLOYEES ARE DEMANDING END-OF- CONTRACT TERMINATION PACKAGES FROM MRC​.‍MRC HAS APPLIED FOR AN URGENT INTERDICT TO EFFECT A RETURN TO WORK​.  Full Article

Murray & Roberts Says ‍Independent Board Recommends Shareholders To Not Accept Aton Offer​‍
Tuesday, 27 Mar 2018 

March 27 (Reuters) - Murray & Roberts Holdings Ltd ::‍INDEPENDENT BOARD RESPONSE TO FIRM INTENTION ANNOUNCEMENT BY ATON GMBH​.ATON'S ‍CASH OFFER PRICE OF ZAR15.00 PER MURRAY & ROBERTS' SHARE MATERIALLY UNDERVALUES CO BASED ON PROSPECTS​.ATON ‍OFFER IS OPPORTUNISTIC AND MADE AT A TIME OF UNPRECEDENTED SHARE PRICE WEAKNESS AS A CONSEQUENCE OF LOW LIQUIDITY​.‍INDEPENDENT BOARD IS OF VIEW THAT PROSPECTS OF ATON SUCCESSFULLY DELISTING MURRAY & ROBERTS IS VERY LOW​.‍INDEPENDENT BOARD ADVISES THAT IT WILL BE RECOMMENDING TO MURRAY & ROBERTS' SHAREHOLDERS TO NOT ACCEPT ATON OFFER​.‍NO ACTION SHOULD BE TAKEN BY MURRAY & ROBERTS' SHAREHOLDERS IN CONNECTION WITH ATON OFFER​.  Full Article

UPDATE 3-South Africa's Murray & Roberts agrees to buy Aveng

* M&R biggest shareholder ATON will not support deal (Adds shareholder ATON saying does not support proposed deal)