Shares of Bytes Technology Group, which is listed in London and Johannesburg, plunged more than 27% on Wednesday.
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JSE-listed technology group Altron said on Wednesday that its headline earnings per share will fall by as much as 29% because of the disposal of its Bytes UK arm and weak trading conditions.
Altron has declared a special dividend of 96c/share after it successfully spun off Bytes as a separate listing in London and Johannesburg and ended up with more cash than it expected.
Fresh from the successful listing of its former subsidiary, Bytes Technology Group, in the UK, could Altron look at an unbundling of Netstar next as it seeks to unlock further value for shareholders?
Altron on Thursday successfully listed its former subsidiary Bytes Technology Group on the main board of the London Stock Exchange, with a secondary listing on the JSE.
Altron has decided to move ahead with the planned listing of its Bytes UK subsidiary on the London Stock Exchange in an effort to unlock value for shareholders.
In this podcast, Altron CEO Mteto Nyati talks to TechCentral’s Duncan McLeod about the group’s decision to explore the unbundling and listing of its Bytes UK subsidiary on the London Stock Exchange.
The turnaround at Altron is gathering steam, reporting a 50% improvement in full-year headline earnings per share from continuing operations.
Bytes UK, a subsidiary of JSE-listed technology group Altron, has secured a contract with the UK’s National Health Service worth £150m (R2.5bn). The £30m/year, five-year deal saw Bytes UK take the tender in
Rob Abraham, former CEO of Altron IT subsidiary Bytes, the company from which he retired two years ago after 17 years of employment, has been appointed as interim CEO of black-owned media group Kagiso Media