EOH Holdings’ new black empowerment partner, Lebashe Investment Group, has said it won’t subscribe for a R250-million third and final tranche of a planned R1-billion investment in the JSE-listed technology group.
Tiso Blackstar, the owner of various media assets including the Sunday Times, Business Day and the Financial Mail, is selling the rump of its business to Lebashe Investment Group for over R1-billion.
Full-year headline earnings per share at troubled JSE-listed technology services group EOH could fall by as much as 70%, it said on Thursday.
EOH and prospective black-owned equity partner Lebashe have amended their planned empowerment deal. Lebashe will now invest R1-billion in the JSE-listed technology services group.
The collapse in EOH’s share price continues unabated. The JSE-listed IT group fell as much as 14.8% on Tuesday after tumbling 9.7% on Monday, reaching levels last seen eight years ago. It recovered some
EOH’s share price plunged more than 20% on Wednesday after the JSE-listed technology services group disappointed investors with a weaker-than-expected earnings update. The update, announced just days after the
EOH, one of South Africa’s largest business technology services companies, has announced a major restructuring, which will result in the creation of two distinct businesses in the group, one of which will continue to trade under