JSE-listed technology group Altron plans to move out of its staid corporate offices in Parktown to a new, 29 000sq m campus in Woodmead, north of Johannesburg, being developed by Growthpoint Properties.
Browsing: Mteto Nyati
Years after starting a process to sell its non-core assets, JSE-listed technology group Altron has received regulatory approval to dispose of the last company it had a controlling interest in and which it had ring-fenced for sale.
Zoaib Hoosen has resigned as MD of Microsoft’s South African subsidiary and will be replaced by Lillian Barnard, the software giant said on Monday.
Altron’s continued turnaround, under the leadership of CEO Mteto Nyati, delivered the best performance among technology shares listed on the JSE in 2018, TechCentral’s annual review of the sector shows.
Altron has resumed dividend payments to shareholders, sending the group’s shares higher on the JSE on Thursday. It’s the first time it has paid a dividend since 2016.
Netstar, a subsidiary of JSE-listed Altron, said on Monday that it has signed a joint venture deal with C Ahead Technology to offer insurance and fleet telematics in India.
Altron’s turnaround under CEO Mteto Nyati is gathering a head of steam. The JSE-listed technology group expects interim headline earnings from continuing operations to surge by as much as 52%.
For the second time in less than five years, Altron has launched a major refresh of its brand identity. It last did this in early 2014.
Bill Venter has stepped down from the board of directors of the company he founded 53 years ago. He will step down as nonexecutive director effective 31 July 2018.
Altron has taken another big step in shedding its legacy industrial assets as the JSE-listed technology group transforms into an ICT-focused business.