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07-Nov-2018
(Official Notice)
Shareholders are referred to the ?Disposal of Radiant Group (Pty) Ltd. and Cautionary Announcement? announcement issued on 14 August 2018, which outlined the disposal by South Ocean Holdings of 100% of the issued share capital in and claims against Radiant Group (Pty) Ltd. ("Radiant") and Icembu Services (Pty) Ltd. wholly owned subsidiaries of South Ocean Holdings and the disposal of the properties from which Radiant operates ("the Radiant Disposal Group") (these transactions together referred to as "the Transaction"). Shareholders are further referred to the ?Disposal of Radiant Group (Pty) Ltd. and Renewal of Cautionary Announcement? announcement which stated that various conditions precedents were still outstanding and the final consideration for the disposal was still to be determined.



Salient dates

Shareholders are advised that the circular to shareholders incorporating, inter alia, a notice of the General Meeting and a form of proxy will be posted to shareholders shortly. The general meeting of the Company's shareholders will be held at the Company?s offices at 16 Botha Street, Alrode, 1451 on Thursday, 29 November 2018 at 09h00 in order to approve the ordinary resolutions as detailed in the circular to shareholders.



Record date in order to be eligible to receive the notice of General Meeting - Friday, 2 November 2018

Notice of General Meeting announced on SENS and circular posted to South Ocean Holdings shareholders - Wednesday, 7 November 2018

Last date to trade in order to be eligible to vote at the General Meeting - Tuesday, 20 November 2018

Record date in order to be eligible to vote at the General Meeting - Friday, 23 November 2018

Last date to lodge forms of proxy with the transfer secretaries for the General Meeting by 09h00 Tuesday, 27 November 2018

General Meeting at 09h00 on Thursday, 29 November 2018

Results of General Meeting released on SENS Thursday, 29 November 2018



Withdrawal of cautionary announcement

Shareholders are advised that the consideration for the Transaction will be between R175 million and R185 million. In addition, only two of the conditions precedent remaining outstanding, being the approval from the Competition Commission and shareholder approval of the transaction. Accordingly, the cautionary announcement is now withdrawn.
19-Oct-2018
(Official Notice)
Shareholders are referred to the announcement dated 14 August 2018, in which shareholders were advised that SOH had entered into an agreement with Eurolux (Pty) Ltd. (?Eurolux?), a controlled subsidiary of ARB Holdings Ltd. (?ARB?), for the disposal of 100% of the issued share capital in and claims against Radiant Group (Pty) Ltd. (?Radiant?) a wholly owned subsidiary of South Ocean Holdings. The Company furthermore, through its wholly-owned subsidiary, Anchor Park Investments 48 (Pty) Ltd. (?Anchor Park?), entered into an agreement with Eurolux for the disposal of the properties from which Radiant operates (these two transactions together referred to as ?the Transaction?). The Transaction is a category 1 transaction and requires shareholder approval.



Due to the review of the pro forma financial information and the review of the historical financial information taking longer than expected, the circular will not be completed in time to meet the requirements of paragraph 9.20(b), of the JSE Listings Requirements. As such, the circular will not be posted to shareholders within the 60- day timeframe.



Accordingly, shareholders are advised that the JSE has granted the Company an extension to post the required circular until 2 November 2018.
26-Sep-2018
(Official Notice)
Shareholders are referred to the ?Disposal of Radiant Group (Pty) Ltd. and Renewal of Cautionary Announcement? announcement issued on SENS on 14 August 2018, which outlined the disposal by South Ocean Holdings of 100% of the issued share capital in and claims against Radiant Group (Pty) Ltd. (?Radiant?) a wholly owned subsidiary of South Ocean Holdings and the disposal of the properties from which Radiant operates (these two transactions together referred to as ?the Transaction?). Given that various conditions precedent are still outstanding and the final disposal consideration for the disposal is still to be determined, shareholders are advised to continue to exercise caution when dealing in the company?s securities until a further announcement containing the effective date and the final disposal consideration is released on SENS.
14-Aug-2018
(Official Notice)
08-Aug-2018
(C)
Revenue for the interim period went up 33.5% to R831.3 million (R622.6 million) whilst operating profit turned around to R14.5 million (loss of R14.6 million). Loss for the period improved by 62.7% to R11.4 million (loss of R30.4 million). Furthermore, headline earnings per share from continued operations was 0.7cps (headline loss of 12.8cps).



Interim dividend declaration

The company?s policy is to consider the declaration of a final dividend after its financial year-end and no interim dividend is declared.



Company prospects

The macro-economic environment in which the Group operates is not expected to improve during the next six months. With fundamental political and fiscal uncertainties remaining a key driver of economic reality, the group will be looking internally for opportunities to improve the profitability of the operating entities.



SOEW is expected to maintain its focus on productivity and efficiency improvements on its current turnover levels. Besides intervening on the cost of manufacturing electrical wire, the revised sales strategy through strengthening of the sales teams is starting to show some improvement. The in-bound supply chain has however been disrupted during July and August this year with one of its key suppliers announcing force majeure on its ability to supply raw materials after fatalities at its mining operation. The impact of this event may cause disruptions in SOEW?s ability to service its customers for as long as the supply chain disruption persists.



The Radiant transaction, as announced on SENS on 3 July 2018, is expected to be concluded by the end of the current financial year. The Group will be applying the cash inflows to reduce its short-term borrowings with its bankers, First National Bank. This transaction will initiate the needed correction to the Group?s capital structure.



The board will continue its journey towards having better black ownership, also recognising the importance of racial transformation required by the market in which the Group operates. The current BEE status of the Group is not reflective of its view on transformation and this process will be receiving heightened attention from the board.



The drivers for growth are local economic growth, increasing the customer base, improving the BEE shareholding and improvement in efficiencies.



Management is confident that the above actions will return the Group to profitability.
08-Aug-2018
(Official Notice)
The Board of directors of SOH is pleased to announce the appointment of Mr Morris Kenneth Zack (?Morris?) as a director and Chief Financial Officer of SOH with effect from 7 August 2018. Morris has broad experience in finance management having led finance teams for large multinationals across the IT, FMCG, manufacturing and automotive sectors. The Board welcomes Morris to SOH and looks forward to working with him.



06-Aug-2018
(Official Notice)
Shareholders are advised that at the Annual General Meeting (?AGM?) of shareholders was held on Monday, 6 August 2018, all resolutions were duly passed by the requisite majority of voters.
01-Aug-2018
(Official Notice)
Shareholders are advised that:

* The loss per share for the interim period ended 30 June 2018 is expected to be between 5.7 cents and 7.6 cents per share, reflecting an improvement of between 61% and 71%, when compared to the loss of 19.5 cents per share reported for the prior period ended 30 June 2017 interim period; and

* The headline loss per share for the interim period ended 30 June 2018 is expected to be between 0.2 cents and 1.2 cents per share reflecting an improvement of between 88% and 98% when compared to the loss per share of 10.2 cents per share reported for the prior period ended 30 June 2017.



The company expects its results for the period ended 30 June 2018 to be released on SENS on or about 8 August 2018.
03-Jul-2018
(Official Notice)
Shareholders are advised that SOH is in advanced discussions with ARB Holdings Limited (?ARB?) and its subsidiary, Eurolux Proprietary Limited, to dispose of 100% of the total issued share capital of Radiant Group Proprietary Limited (?Radiant?), a subsidiary of SOH, and the properties that Radiant operate out of. This will be a category 1 transaction for the Company.



Radiant imports and distributes light fittings, lamps and electrical accessories to the housing, infrastructure, building and construction sectors. Radiant distributes its products through lighting warehouses, retail outlets, lighting specialists and electrical wholesalers. The proposed transaction is subject to several conditions precedent, including the conclusion of definitive sale agreements, and a comprehensive due diligence, together with the approval of the shareholders of SOH, the JSE and the Competition Commission. Accordingly, shareholders are advised to exercise caution when dealing in the Company?s securities until a further announcement is made on SENS.

12-Jun-2018
(Official Notice)
The board of directors of South Ocean announced the appointment of Mr Barend Petersen as a non-executive director of SOH with effect from 11 June 2018.
30-Apr-2018
(Official Notice)
Shareholders are referred to the announcement released on SENS on Friday, 9 March 2018, regarding the Company's decision to raise approximately R20 million by way of a Non-Renounceable Rights Offer.



In terms of the rights offer, South Ocean Holdings shareholders recorded in the register at the close of trade on Friday, 20 April 2018, were entitled to subscribe for rights offer shares on the basis of 29.99000 rights offer shares for every 100 South Ocean Holdings shares held on such date at a rights offer price of 42 cents per rights offer share. The rights offer price represented a premium of approximately 92.73% to the 30-day VWAP share price of South Ocean Holdings of 21.79236 cents per share as at Wednesday, 7 March 2018. Excess applications were not allowed.



The rights offer was underwritten by Macrovest 147(Pty) Ltd. (?Marcrovest?) by way of Macrovest depositing R19 697 160 into a South Ocean Holdings denominated bank account opened by the Transfer Secretaries.

30-Apr-2018
(Official Notice)
Shareholders are advised that the Company?s integrated report incorporating the financial statements for the financial year ended 31 December 2017 will be posted to shareholders on or about Monday, 30 April 2018 and is available on the Company?s website, www.southoceanholdings.co.za. The audited financial statements contain no changes to the audited consolidated financial results for the period ended 31 December 2017, released on the Stock Exchange News Service of the JSE Ltd. on 22 March 2018.



The audit opinion did not contain any qualifications or modifications and is available for inspection at the Company?s registered office.



Notice of AGM

Notice is hereby given that the annual general meeting of ordinary shareholders will be held at 11:00 on Monday, 6 August 2018, at the Conference Room, 16 Botha Street, Alrode, to transact the business as stated in the notice of annual general meeting forming part of the integrated report.



Record dates

The board of directors of the Company has determined that the record date for the purposes of determining which shareholders of the Company are entitled to receive notice of the annual general meeting is Friday, 20 April 2018.



The last day to trade in order to be eligible to vote at the annual general meeting will be Tuesday, 24 July 2018. The record date on which shareholders of the Company must be registered as such in the Company?s securities register in order to attend and vote at the meeting is Friday, 27 July 2018.



Broad-Based Black Economic Empowerment Act ("the Act"): Annual Compliance Report

Shareholders are hereby notified that in accordance with paragraph 16.20 (g) and Appendix 1 to Section 11 of the JSE Listings Requirements, the Company?s Annual Compliance Report, in terms of section 13G(2) of the Act, has been published and is available on the Company?s website, www.southoceanholdings.co.za.



Shareholders are further advised that South Ocean operations are conducted through its subsidiaries or associates, which BEE compliance levels are published on the website.
12-Apr-2018
(Official Notice)
10-Apr-2018
(Official Notice)
29-Mar-2018
(Official Notice)
Shareholders are referred to the results announcement published on 22 March 2018 and are advised that the prior year headline loss information contained a correction from the previous headline loss information published on 13 March 2017. The difference arose due to the adjustments used to calculate the headline loss in the prior year being pre-tax numbers as opposed to after tax numbers.



The change to the information is presented below:

Reconciliation of headline loss

(Published on 22 March 2018) 31 December 2016 and (Published on 13 March 2017) 31 December 2016 R?000

*Loss attributable to equity holders of the Group - (39 139); (39 139)

*Profit on disposal of property, plant and equipment - (78); (108)

*Net impairment - 13 495 18 743

*Headline loss - (25 722); (20 504)

*Headline loss per share (cents) - (16.4); (13.1)



The correct figure for the 2016 headline loss is 16.4 cents per share as published on 22 March 2018.
22-Mar-2018
(C)
Revenue from continuing operations was 0.5% lower at R1.426 billion (2016: R1.434 billion). Gross profit increased by 6.3% to R66.6 million (2016: R62.6 million). Loss for the year from continuing operations narrowed by 82.7% to R6.2 million (2016: loss of R36 million). Furthermore, headline loss per share widened to 35.9 cents per share (2016: loss of 16.4 cents per share).



Final dividend declaration

No final dividend has been declared.



Company prospects

It is important that the Group is structured to respond more effectively to the changing market dynamics. Short term actions include an intensive focus on re-enforcing the Group?s sales strategy and strengthening its sales teams and improving efficiencies on the production lines. The Group will also focus on tight cost control, improved management review levels and heightened accountability and action on non-performance. The Group?s attention is also firmly focused on its target clients and markets to improve revenue that will deliver the value-enhancing growth the management team seeks, whilst improving returns on capital employed across the Group.



The Group?s banker has indicated that they will be reducing the overdraft facility of Radiant Group by R3 million per month as from the 1 April 2018 to a maximum of R20 million. The Directors have taken the decision to replace the R20 million by a non-renounceable rights offer of R20 million which will be underwritten by a potential BEE shareholder.



It is critical for the Group to get a BEE shareholder on board as revenues are being negatively affected by the current BEE status of the Group. The drivers for growth are global and local economic growth, increasing customer base, BEE shareholder and improvement in efficiencies.



Management is confident that the above actions will return the Group to profitability.

16-Mar-2018
(Official Notice)
In terms of the JSE Listings Requirements, companies are required to publish a trading statement as soon as they are satisfied that a reasonable degree of certainty exists that the financial results for the period to be reported on will differ by at least 20% from the financial results for the previous corresponding period or a profit forecast previously provided to the market in relation to such period.



Shareholders are accordingly advised that a reasonable degree of certainty exists that, for the year ended 31 December 2017:

*South Ocean Holdings? headline loss per share is expected to be between 34.9 cents (112.8% higher) and 36.9 cents (125.0% higher) compared to the loss per share of 16.4 cents for the corresponding prior year; and

*The loss per share is expected to be between 35.5 cents (42.0% higher) and 38.0 cents (52.0% higher) compared to the loss per share of 25.0 cents for the corresponding prior year.



The loss per share was impacted by the following:

*a decrease as a result of the reversal of the net impairment charge raised in 2016 of R13.5 million to the plant and machinery of South Ocean Electric Wire Company due to the subsidiary?s value in use being lower than the enterprise value in 2016;

*an increase by the net impairment charge of R8.3 million to the non-current assets of Radiant Group due to the subsidiary?s value in use being lower than the enterprise value;

*the Radiant trade name was also impaired by a net value of R4.0 million; and

*Radiant made an additional net provision for slow moving inventory to the value of R12.7 million.



The impairment charge, reversal of impairment and the additional provision were made in accordance with IFRS. The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings? external auditors. The audited results for the 12 months ended 31 December 2017 are expected to be published on or about 22 March 2018.
15-Mar-2018
(Official Notice)
The board of directors is pleased to advise that the Company has appointed Arbor Capital Sponsors (Pty) Ltd. as sponsor to the Company with immediate effect.

09-Mar-2018
(Official Notice)
Shareholders are referred to the announcement published on 25 January 2017 wherein it was announced that the Company had decided to raise R20 million by way of a claw back offer to support the working capital requirements of the business.



Further to this announcement, shareholders are advised that the Company decided to renegotiate the agreement and resolved to pursue the implementation of a non- renounceable, underwritten rights offer of 46 898 000 ordinary shares (?Rights Offer Shares?) at a price of R0.42 per share, in the ratio of 29.99000 Rights Offer Shares for every 100 ordinary shares. The Company intends to raise R19 697 160 from existing shareholders (the ?Rights Offer?).



The aforementioned Rights Offer Share price represents a premium of approximately 92.73% to the prevailing 30-day volume weighted average price of the ordinary shares as at Wednesday, 7 March 2018.



The allocation of Rights Offer Shares will be that S.Ocean shareholders will not be allocated a fraction of a Rights Offer Share and as such any entitlement to a fraction of a Right which:

- is less than one-half of a Rights Offer Share, will be rounded down to the nearest whole number; or

- is equal to or greater than one-half of a Rights Offer Share but less than a whole Rights Offer Share will be rounded up to the nearest whole number.



The Rights Offer Shares shall rank pari passu with the existing issued ordinary shares of S.Ocean.



Salient dates

Salient dates will be announced in due course. The Rights Offer circular containing full particulars of the Rights Offer will be distributed to Shareholders in due course.



Withdrawal of cautionary announcement

Shareholders are referred to the cautionary announcement released on 25 January 2018 advising shareholders of the proposed claw-back offer. Accordingly, the cautionary is withdrawn and caution is no longer required to be exercised when dealing in the Company?s securities
25-Jan-2018
(Official Notice)
Shareholders are advised that the Company decided to raise R20 million by way of a claw back offer to support the working capital requirements of the business.



The Company will be entering into negotiations with interested BEE investors in this regard and shareholders will be informed of the terms and conditions of the claw back subscription agreement and claw back offer in due course.



Accordingly, shareholders are advised to exercise caution when dealing in the securities of the Company until a further announcement is made, as the proposed claw back offer, if successfully concluded, may have a material effect on the price of the Company?s securities.

12-Jan-2018
(Official Notice)
Shareholders are advised that Kabelo Lehloenya has resigned as a Director and Chief Financial Officer of SOH to take effect from 31 January 2018. The appointment of a replacement Director/Chief Financial Officer will be made and announced in due course.
15-Aug-2017
(C)
Revenue for the interim period decreased by 15.2% to R764.9 million (2016: R901.6 million). Gross profit was 26.7% lower at R63.4 million (2016: R86.5 million). Operating loss worsened to R30.9 (2016: loss of R585 000). Total comprehensive loss attributable to equity holders of the company amounted to R30.4 million (2016: loss of R6.7 million). Furthermore, headline loss per share widened by 137.2% to 10.2 cents per share (2016: headline loss per share of 4.3 cents per share).



Interim dividend declaration

The company's policy is to consider the declaration of a final dividend after its financial year-end.



Prospects

With the South African economy being in a technical recession, trading conditions are expected to continue to be challenging. This is exacerbated by a decline in mining, agriculture and manufacturing activities with limited spending in infrastructure. The Group is aggressively implementing its Africa growth strategy to increase its footprint in sub-Saharan Africa to grow revenue and increase gross profit, to counter the slump in the South African economy. The Group remains committed to increasing shareholders' value and will explore all possible avenues to ensure that this objective is attained. In line with past trends, revenue from the Lighting and Electrical Division is expected to increase in the second six months even though profit margins will still be under pressure. Improving operational efficiencies remains a focal point for management. Management will continue to maintain a disciplined approach to reduce costs as far as possible, improve working capital management and increase margins where possible.
08-Aug-2017
(Official Notice)
South Ocean Holdings? headline loss per share for the 6 months ended 30th June 2017 is expected to be between 5.3 cents and 6.5 cents higher than the headline loss per share for the corresponding prior period. The loss per share is expected to be between 13.8 cents and 16.8 cents higher compared to the loss per share for the corresponding prior period.



To comply with IAS 36, the Group performed an impairment test of its assets in subsidiaries, as a result a net impairment charge of R14.5 million was recognized in the Statement of Comprehensive Income which contributed to an increase in the loss per share. The impairment was due to the value in use of the subsidiaries being lower than the subsidiaries? enterprise value.



As reported in the corresponding prior period, headline loss per share was 4.3 cents and loss per share was 4.2 cents. The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings? external auditors. The audited results for the 6 months ended 30th June 2017 are expected to be published on or about the 14th of August 2017.
08-Aug-2017
(Official Notice)
Shareholders are advised that at the Annual General Meeting (?AGM?) of SOH held on 8 August 2017, all resolutions proposed at the AGM, except for Special resolutions numbers 1 and 2 and ordinary resolution number 10, were passed by the requisite majority of shareholders. Special resolutions numbers 1 and 2 and Ordinary resolution number 10 did not receive the requisite 75% voting majority and as such the resolutions were not passed in terms of the Companies Act, 2008. The following information is provided:

*Total issued number of ordinary shares 156 378 794

*Number of ordinary shares represented at the meeting 131 973 292

*Percentage of ordinary shared represented at the meeting 84,39%

Abstentions are represented as a percentage of total issued number of ordinary shares.

29-Jun-2017
(Official Notice)
Shareholders are advised that the company?s financial statements for the year ended 31 December 2016 were posted or emailed to shareholders on 29 June 2017 and contained no modifications to the audited results which were published on 13 March 2017. PricewaterhouseCoopers Inc. audited the financial statements for the year ended 31 December 2016. The financial statement of South Ocean Holdings and their reports are available for inspection at the registered offices of the company.



Notice of the annual general meeting

The notice of the annual general meeting was posted or emailed to shareholders along with the financial statements, and notice is hereby given that the annual general meeting of the Company will be in the Conference room, 16 Botha Street, Alrode, at 11h00 on 8 August 2017, in order to transact the business as stated in the notice of the annual general meeting.



22-Jun-2017
(Official Notice)
South Ocean?s shareholders are referred to the SENS announcement released on 27 March 2014, advising shareholders that the Competition Commission referred a complaint to the Competition Tribunal asking the Tribunal to impose an administrative penalty on each of the firms involved, except Aberdare Cables, which was granted conditional leniency.



South Ocean has now agreed to settle the Commission's referral by paying an administrative penalty of R13 362 855, a percentage of South Ocean?s annual turnover for the financial year ending February 2010, which the Tribunal has now confirmed.



18-May-2017
(Official Notice)
Shareholders are advised that Mr. Kevin Yeh has resigned as a Director of SOH to take effect from 17 May 2017.



Shareholders are also advised that Benjamin Li has resigned as Mr. Joe Wu?s alternate to take effect from 17 May 2017.

13-Mar-2017
(C)
Revenue for the year increased 7.2% to R1.777 billion (2015: R1.657 billion), gross profit decreased 2.7% to R153.7 million (2015: R158.1 million), loss for the year was higher at R39.1 million (2015: loss of R13.9 million), while headline loss per share rose to 13.1 cents per share (2015: loss of 9.1 cents per share).



Final dividend declaration

No final dividend has been declared.



Prospects

The International Monetary Fund has forecasted a growth of 0,8% in the South African economy, while the South African Reserve Bank has forecasted a growth of 1.1%. These forecasts signal an improvement in South Africa's economic environment and the Group is planning to take full advantage of the improved trading conditions.



During 2016 the Group enhanced its effort on improving its Black Economic Empowerment ("BEE") rating for 2017. The Group plans to utilise the improved BEE rating to grow its business in the Public and Private Sector focusing on State Owned Entities and Municipalities, while maximising on existing market opportunities. The Group is reenforcing its sales strategy and strengthening its sales teams in order to gain new markets and increase revenue. In line with this, the Group will be aggressive in implementing its Africa growth strategy to increase its footprint in Sub-Saharan Africa to further grow revenue.



Improving operational efficiencies remains a focal point for management. In 2014, the Group implemented a Warehouse Management System at Radiant. The benefits of this system were realised in 2016 through increased operational effeciencies and cost savings. Radiant is also in the process of implementing a master stock planning tool which will ensure that optimal stock levels are maintained. This will assist in managing working capital requirements of the subsidiary. SOEW has streamlined its processes and procedures to improve operational efficiencies and reduce costs in order to provide products at competitive prices to customers.



Management is confident that the above actions will return the Group to profitability.
06-Mar-2017
(Official Notice)
South Ocean Holdings? headline loss per share for the year ended 31st December 2016 is expected to be between 3.8 cents (42%) and 4.2 cents (46%) higher than the headline loss per share for the corresponding prior year. The loss per share is expected to be between 15.3 cents and 16.9 cents higher compared to the loss per share for the corresponding prior year.



The increase in the loss per share was partly a result of the net impairment charge of R13.5 million to the plant and machinery of South Ocean Electric Wire Company due to the subsidiary?s value in use being lower than the enterprise value and an additional net provision of Radiant?s inventory to the value of R6.4 million. The impairment and the additional provisions were performed to comply with IFRS. As reported in the corresponding prior year, the headline loss per share and loss per share were 9.1 cents and 8.9 cents respectively.



The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings? external auditors. The audited results for the 12 months ended 31st December 2016 are expected to be published on or about the 13th of March 2017.
15-Aug-2016
(C)
Revenue for the interim period increased by 4.9% to R901.6 million (2015: R859.5 million). Gross profit was 17.5% lower at R86.5 million (2015: R104.9 million). Operating loss worsened by 102.7% to R585 000 (2015: profit of R21.3 million). Total comprehensive loss attributable to equity holders of the company changed by 181% to R6.7 million (2015: profit of R8.3 million). Furthermore, headline loss per share widened by 189.6% to 4.3 cents per share (2015: headline earnings per share of 4.8 cents per share).



Interim dividend declaration

The company's policy is to consider the declaration of a final dividend after its financial year-end.



Prospects

The prospect for the South African economy's growth rate for the next year is lower with a decline in mining, agriculture and manufacturing activities, an abnormal volatile exchange rate and limited infrastructure spending.



The Lighting and Electrical Division is expected to continue its revenue growth but the margins will still be under pressure.



The Electrical Cable Manufacturing Division's revenue is expected to be under pressure mainly due to a decrease in demand and continued price pressures.



Taking the current weak market conditions into account it is imperative that the group maintains its disciplined approach to reduce costs as far as possible and improve working capital management, leveraging on operational efficiencies and increasing margins where possible.
11-Aug-2016
(Official Notice)
Shareholders are advised that at the Annual General Meeting (?AGM?) of SOH held on 10 August 2016, all resolutions proposed at the AGM, except for Ordinary resolution number 4, Special resolution number 1 and Ordinary resolution number 11, were passed by the requisite majority of shareholders. Ordinary resolution number 4 and Ordinary resolution number 11 were withdrawn by the directors prior to the AGM. Special resolution number 1 did not receive the requisite 75% voting majority and as such the resolution was not passed in terms of the Companies Act, 2008. The following information is provided:



*Total issued number of ordinary shares: 156 378 794

*Number of ordinary shares represented at the meeting: 129 505 811

*Percentage of ordinary shared represented at the meeting: 82,82%





11-Aug-2016
(Official Notice)
Shareholders are advised that, in terms of paragraph 3.59 of the JSE Listings Requirements, Ms. Louisa Stephens has resigned as an Independent Non-executive director of SOH with effect from 10 August 2016.
05-Aug-2016
(Official Notice)
South Ocean announced that Ms Mantsu Kabelo Lehloenya has been appointed a director and the Chief Financial Officer of SOH with effect 4 August 2016. Shareholders are referred to the SENS announcement published on 31 August 2015 and advise that Mr Jacobus Petrus Bekker has been appointed the Chief Executive Officer of SOH with effect from 4 August 2016.
01-Aug-2016
(Official Notice)
South Ocean?s headline earnings per share for the six months ended 30th June 2016 is expected to be between 8.6 cents to 9.2 cents lower than the corresponding prior period. The earnings per share is expected to be between 9.1 cents to 9.7 cents lower than the corresponding prior period. As reported in the corresponding prior period, headline earnings per share was 4.8 cents and earnings per share was 5.1 cents.



The unaudited results for the six months ended 30th June 2016 are expected to be published on or about the 15th August 2016.
29-Jun-2016
(Official Notice)
Shareholders are advised that the company?s financial statements for the year ended 31 December 2015 were posted or emailed to shareholders on 29 June 2016 and contained no modifications to the audited results which were published on 9 March 2016. PricewaterhouseCoopers Inc. audited the financial statements ended 31 December 2015. The financial statements of South Ocean Holdings and their reports are available for inspection at the registered offices of the company.



Notice of the Annual General Meeting

The notice of the Annual General Meeting was posted or emailed to shareholders along with the financial statements, and notice is hereby given that the Annual General Meeting of the company will be held in the Conference room, 16 Botha Street, Alrode, at 11h00 on 11 August 2016, in order to transact the business as stated in the notice of the Annual General Meeting.
09-Mar-2016
(C)
Revenue for the year lowered to R1.657 billion (2014: R1.715 billion), gross profit fell to R158.1 million (2014: R262.2 million), operating profit plunged to R438 000 (2014: R79.6 million), while loss for the year came in at R13.9 million (2014: profit of R37.5 million). Furthermore, headline loss per share was 9.1 cents per share (2014: earnings of 24 cents per share).



Final dividend declaration

No final dividend has been declared.



Prospects

The market conditions will remain challenging during the 2016 financial year, however the results are expected to show an improvement compared to the 2015 financial year. The volatility of the Rand is expected to continue in 2016. In addition, increase in interest rates are affecting the building industry, which will impact on our segmental sectors.



The World Bank has forecasted lower growth, and although it does not forecast a recession for the South African economy, lower levels of growth would lead to further declines in per capita incomes. The South African Reserve Bank is forecasting a high inflation rate averaging 6% and disposable income is expected to decline. The electricity and water supply constraints will slow growth by interrupting production and discouraging investments. The weakened commodity markets will continue to affect the Rand Copper Price, and thereby affecting revenue in the Electrical Cable Manufacturing segment.



Against the background of a depreciating currency, rising inflation rates and rising interest rates, the Group has re-analysed its strategic approach on gaining market share and is capitalising on existing market opportunities. Cost control and improving working capital will continue to be a focal point, leveraging on operational efficiencies.
25-Feb-2016
(Official Notice)
South Ocean?s headline loss per share for the year ended 31st December 2015 is expected to be between 133% (31.9 cents) and 143% (34.3 cents) lower than the headline earnings per share for the corresponding prior year. The loss per share is expected to be lower by between 132% (31.7 cents) and 142% (34.1 cents) compared to the earnings per share for the corresponding prior year. As reported in the corresponding prior year, the headline earnings per share and earnings per share were 24.0 cents.



The audited results for the 12 months ended 31st December 2015 are expected to be published on or about the 9th of March 2016.
05-Feb-2016
(Official Notice)
The following changes will be made to the Board of directors and Nomination Committee of South Ocean to take effect from 18 February 2016:



Resignation of Mr. E H T Pan as a director and Deputy Vice Chairman of South Ocean and as a member of the Nomination Committee. The Board of directors thanks Mr. Pan for his past services and contributions to the South Ocean group and wishes him all the best with regard to his future endeavours.



Appointment of Mr. H L Li as the Deputy Vice Chairman of South Ocean. Mr. Li is a non- executive director of South Ocean.



Appointment of Mr. Jen-hao (Kevin) Yeh as an independent non-executive director of South Ocean. Mr. Yeh has a Bachelor of Science degree and has 19 years of experience in actuarial and financial planning in the financial services sector.



Resignation of Ms. D J C Pan as Mr. E H T Pan?s alternate director and resignation of Mr. C H Pan as Mr. H L Li?s alternate director and appointment of Ms. D J C Pan as Mr. H L Li?s alternate director.



Appointment of Mr. C Y Wu as a member of the Nomination Committee. Mr. Wu is a non-executive director of South Ocean.
31-Aug-2015
(Official Notice)
Shareholders are referred to the announcement that appeared on SENS on 6 August 2015. Mr Paul Ferreira, the Chief Executive Officer of South Ocean, has decided to resign as a director and Chief Executive Officer of the Company with effect 31 August 2015 and not from 31 October 2015 as previously announced.



Mr Koos Bekker, the Chief Financial Officer of South Ocean, will assume the position of acting Chief Executive Officer with effect from 1 September 2015 and will at this stage retain his responsibilities as the Chief Financial Officer. The above arrangement will be resolved in due course and once a suitable replacement for the Chief Financial Officer has been found and appointed whereupon M. Bekker will be appointed the Chief Executive Officer.
14-Aug-2015
(Official Notice)
Shareholders are advised that Edward Pan, a non-executive director of South Ocean, was appointed a member of the South Ocean Nomination Committee on 6 August 2015.
06-Aug-2015
(C)
Revenue for the interim period decreased by 3.2% to R859.5 million (R888.2 million). Gross profit lowered by 6.0% to R104.9 million (R111.6 million). Operating profit went down by 17.8% to R21.3 million (R25.9 million). Total comprehensive income attributable to equity holders of the company fell 27.0% to R8.3 million (R11.3 million). In addition, headline earnings per share took a 34.2% knock to 4.8cps (7.3cps).



Interim dividend declaration

The company's policy is to consider the declaration of a final dividend after its financial year-end.



Prospects

The South African economic conditions are not expected to improve significantly in the near future, household disposable income is expected to decrease and inflation is on the increase. These economic conditions, together with competitive markets and a weakening Rand, are expected to adversely affect our trading subsidiaries results.



The focus by management is to strategically improve efficiencies and reduce overhead costs, and therefore improve profitability. Revenue and margins will continue to be affected by tough market conditions and stringent competition.
06-Aug-2015
(Official Notice)
Paul Ferreira has resigned as a Director and Chief Executive Officer of SOH to take effect from 31 October 2015. The appointment of a replacement Director/Chief Executive Officer will be made and announced in due course.
31-Jul-2015
(Official Notice)
Shareholders are advised that the Annual General Meeting (?AGM?) of South Ocean was held on 31 July 2015 and all the resolutions proposed at the AGM were passed by the requisite majority.
23-Jul-2015
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the 6 months ended 30th June 2015 are expected to be between 27% (1.97 cents) to 37% (2.7 cents) lower than the corresponding prior period. As reported in the corresponding prior period, headline earnings per share and earnings per share were 7.3 cents.



The unaudited results for the 6 months ended 30th June 2015 are expected to be published on or about the 6th August 2015.
30-Jun-2015
(Official Notice)
Shareholders are advised that the Company?s annual financial statements for the year ended 31 December 2014 were posted or emailed to shareholders on 30 June 2015 and contained no modifications to the audited results which were published on 18 March 2015. PricewaterhouseCoopers Inc. audited the annual financial statements ended 31 December 2014. The annual financial statements of South Ocean and their reports are available for inspection at the registered offices of the company.



Notice of the Annual General Meeting

The notice of the Annual General Meeting was posted or emailed to shareholders along with the annual financial statements, and notice is hereby given that the Annual General Meeting of the Company will be held in the Conference room, 16 Botha Street, Alrode, at 11h00 on 31 July 2015, in order to transact the business as stated in the notice of the Annual General Meeting.
04-Jun-2015
(Official Notice)
This serves as a general communication to South Ocean Holdings shareholders with regards to the business environment for the period 1 January 2015 to date.



South Ocean Electric Wire Company (Pty) Ltd (SOEW), the manufacturing subsidiary of South Ocean Holdings, experienced electricity supply problems during the month of April 2015 and the month of May 2015. This was due to faulty transformers supplying electricity to the Alrode area, where the SOEW factory is situated. This led to a loss of production output and increase in production costs.



South Ocean Holdings? results for the six months ending 30 June 2015 will be negatively impacted as a result of the electricity supply problem. A further business update may be issued in due course to shareholders, if deemed necessary. South Ocean Holdings? interim results for the period ending 30 June 2015 are expected to be announced on or about 6th August 2015. The business update has not been reviewed or reported on by South Ocean Holdings? auditors.

19-Mar-2015
(C)
Revenue for the year increased by 1.4% to R1.715 billion (2013: R1.691 billion). Gross profit rose by 21.9% to R262.2 million (2013: R215 million), operating profit turned around to R79.6 million (2013: loss of R92.7 million), while profit for the year came in at R37.5 million (2013: loss of R121.4 million). Furthermore, headline earnings per share grew by 14.3% to 24cps (2013: 21cps).



Final dividend declaration

Funds have been invested in the expansion plan to increase production capacity during the year, hence the directors have agreed not to recommend a final dividend.



Prospects

The market conditions will remain challenging during the 2015 financial year, however, the results are expected to show an improvement compared to the 2014 financial year. Management are in the process of refocusing on the lighting and electrical accessories segment to regain lost market share and improve customer service delivery expectations. Cost control and improving working capital will continue to be a focal point during the year, leveraging on operational efficiencies and capitalising on existing marketing opportunities.
13-Mar-2015
(Official Notice)
South Ocean Holding?s headline earnings per share for the year ended 31st December 2014 are expected to be between 10% (2.1 cents) to 20% (4.2 cents) higher than for the corresponding prior year. Earnings per share are expected to improve by between 125% (97.1 cents) to 135% (104.9 cents) compared to the corresponding prior year. As reported in the corresponding prior year, the headline earnings per share was 21.0 cents and the loss per share was 77.7 cents. The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings? external auditors. The audited results for the 12 months ended 31st December 2014 are expected to be published on or about the 18th of March 2015.



29-Aug-2014
(Official Notice)
South Ocean announced that Ms. Daphne Pan has been appointed Mr. Edward Pan's alternate director on the South Ocean board with effect from 29 August 2014.



Ms. Pan has a Bachelor of Science from New York University and a Certificate in the Diploma Program in Finance with Internship from the University of California.



Ms. Desiree Pan has resigned as Mr. Edward Pan?s alternate director on the South Ocean board with effect 29 August 2014.
07-Aug-2014
(C)
Revenue for the interim period increased by 15.5% to R888.2 million (2013: R769.2 million). Gross profit increased by 17.8% to R111.6 million (2013: R94.7 million), operating profit rose by 62.9% to R25.9 million (2013: R15.9 million), while total comprehensive income for the period grew by 92.9% to R11.3 million (2013: R5.9 million). Furthermore, headline earnings per share strengthened to 7.3cps (2013:3.4cps).



Dividend declaration

The company's policy is to consider the declaration of a final dividend after its financial year-end.



Prospects

The Group foresees a competitive market that will continues to weigh heavily on expected economic growth. The NUMSA strike halted operations in the Cable segment for four weeks. The strike will have a material affect on the revenue and margins during the second half of the year. The Cable segment will be able to take advantage of the improved capacity for the rest of the year, due to the capax expansion. The investment in improving supply chain abilities in line with Radiant Group's strategic objectives are expected to contribute to improving revenues and profitability in the second half of the year.
30-Jul-2014
(Official Notice)
Shareholders are advised that at the annual general meeting on 30 July 2014, all the resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders. The relevant special resolutions will be lodged, as required, with the Companies and Intellectual Property Commission in due course.
25-Jul-2014
(Official Notice)
South Ocean Holdings' headline earnings per share and earnings per share for the 6 months ended 30th June 2014 is expected to be between 105% to 115% higher than the corresponding prior period. As reported in the corresponding prior period, a headline earnings per share was 3.4 cents per share and earnings per share was 3.5 cents per share.



The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean Holdings' external auditors. The unaudited results for the 6 months ended 30th June 2014 are expected to be published on or about the 7st August 2014.
10-Jul-2014
(Official Notice)
Shareholders are reminded that the last day to register for the South Ocean Annual General Meeting to be held on Wednesday, 30 July 2014 is, Friday, 18 July 2014.
30-Jun-2014
(Official Notice)
Shareholders are advised that the Company?s annual financial statements for the year ended 31 December 2013 were posted to shareholders on 27 June 2014 and contained no modifications to the audited results which were published on 7 March 2014. PricewaterhouseCoopers Inc. audited the results and the annual financial statements of South Ocean Holdings and their reports are available for inspection at the registered offices of the company.



Notice of the Annual General Meeting

The notice of the Annual General Meeting was posted to shareholders along with the annual financial statements, and notice is hereby given that the Annual General Meeting of the Company will be held in the Conference room, 16 Botha Street, Alrode, at 11h00 on 30 July 2014, in order to transact the business as stated in the notice of the Annual General Meeting.

24-Jun-2014
(Official Notice)
South Ocean announced that Ms Natasha Lalla and Ms Louisa Stephens have been appointed independent non-executive directors of South Ocean with effect 23 June 2014 Ms Lalla has also been appointed a member of the Audit and Risk Management Committee.
27-Mar-2014
(Official Notice)
Shareholders are referred to South Ocean's announcement released on SENS on 6 May 2010 advising that the Competition Commission (Commission) had initiated a complaint investigation into certain alleged prohibited practices in the power cable market against South Ocean Electric Wire Company (Pty) Ltd. (SOEW), a wholly owned subsidiary of South Ocean, and three other competitors; and to the Commission?s media release published on 19 March 2014 announcing that it had decided to refer the complaint to the Competition Tribunal (Tribunal).



Shareholders are specifically referred to the Commission's announcement that on 16 March 2010 the Commission initiated a complaint investigation against SOEW and the other three competitors, Alvern Cables, Tulisa Cables, and Aberdare Cables, for possible price fixing and market allocation in contravention of the Competition Act; and that the Commission has asked the Tribunal to impose an administrative penalty on each of the firms involved, except for Aberdare Cables, which has been granted conditional leniency.
07-Mar-2014
(Official Notice)
The following changes have been made to the board of directors and sub- committees of SOH:

*Resignation of, Mr. E G Dube, as the Chairman and a director of SOH, Chairman of the Nomination Committee and a member of the Remuneration Committee, with effect 31 March 2014.

*Appointment of Mr. K H Pon as the Chairman of SOH and as the Chairman of the Nomination Committee. Mr. Pon has resigned as the Chairman of the Audit and Risk Management Committee and as Chairman of the Remuneration Committee. Mr. Pon is an independent non-executive director of SOH. The above appointments and resignations take effect from 31 March 2014.

*Ms. M Chong has been appointed the Chairperson of the Audit and Risk Management Committee and as the Chairperson and member of the Remuneration Committee. Ms. Chong is an independent non-executive director of SOH. The above appointments take effect from 31 March 2014.

*Appointment of Mr. E H T Pan as a member of the Nomination Committee with immediate effect. Mr. Pan is a non-executive director of SOH.

*Ms. M H Lee has resigned as Mr. C Y Wu?s alternate director to take effect immediately.

*Mr. Wen-Ping Li has been appointed as Mr. C Y Wu?s alternate on the Board of SOH with immediate effect. Mr. Wu is a non- executive director of SOH.

*Mr. Li is the Chief (Assistant President) of the Sales Department of the Power Cable Division of Hong-Tai Industrial Co Ltd, a company listed on the Taiwanese Stock Exchange.
07-Mar-2014
(C)
Revenue for the year jumped 20.2% to R1.7 billion (R1.4 billion) and gross profit fell by 5.2% to R215 million (R226.8 million). Operating loss was R92.7 million (loss of R91.1 million). Total comprehensive loss attributable to equity holders was R120.6 million (loss of R118.1 million). Headline earnings per share decreased to 21cps (36.3cps).



Dividend

Funds have been invested in the expansion plan to increase production capacity during the year, hence the directors have not recommended a dividend.



Prospects

The market conditions will remain challenging during the 2014 financial year, however the results are expected to show a significant improvement compared to the 2013 financial year. Management are in the process of refocusing the lighting and electrical accessories segment and regaining lost market share. Cost control and improving working capital will continue to be a focal point during the year, leveraging on operational efficiencies and capitalising on existing marketing opportunities. The Group has submitted a number of tenders to Parastatals (Government, Eskom) since the previous period, which has not yet been awarded. Any successful tenders will increase revenues.

27-Feb-2014
(Official Notice)
South Ocean's headline earnings per share for the 12 months ended 31 December 2013 are expected to be between 35% to 45% lower than for the corresponding prior year and earnings per share are expected to be between 0% and 10% lower than for the corresponding prior year. The decrease in earnings relates to an impairment charge of R148 million for goodwill that arose on the acquisition of the Radiant Group in 2007, resulting in the goodwill amount being impaired in full. The directors have taken the decision that the impairment of the goodwill is prudent based on the earnings history of Radiant Group and the subdued market conditions at present. As reported in the corresponding prior year, headline earnings per share were 36.3 cents and earnings per share loss were 75.6 cents.



The audited results for the 12 months ended 31 December 2013 are expected to be published on or about 10 March 2014.
20-Nov-2013
(Official Notice)
Ms Debbie Tam has resigned as a director of South Ocean with effect 31 December 2013.
04-Oct-2013
(Official Notice)
Ms. D L Pan will be appointed as Mr. E H T Pan's alternate director on the board of South Ocean Holdings Ltd with effect 16 October 2013.



Mr. C C Wu will resign as Mr. E H T Pan's alternate with effect 16 October 2013.
01-Aug-2013
(C)
Revenue for the interim period increased by 17.8% to R769.2 million (2012: R652.9 million). Gross profit decreased by 14.6% to R94.7 million (2012: R110.9 million), operating profit halved by 50.5% to R15.9 million (2012: R32.2 million), while total comprehensive income for the period dropped by 68.1% to R5.9 million (2012: R18.4 million). Furthermore, headline earnings per share weakened to 3.4cps (2012: 11.7cps).



Interim dividend declaration

The company policy is to consider the declaration of a final dividend after its financial year-end.



Prospects

The prospects for the South African economy remain mixed with muted growth rates expected for the year. The highly competitive environment is also expected to continue for the rest of the year. The group has entered the tender market as previously indicated. Tenders to Eskom have been submitted by SOEW and Radiant Group but the awarding of the tenders has been delayed. The positive outcome of any tender business will increase the revenue and results of the group.



The Cable segment will be able to take advantage of the improved capacity for the rest of the year and the strategic changes implemented at the Lighting and Electrical segment will contribute to improving results.
23-Jul-2013
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the six months ended 30 June 2013 is expected to be between 65% to 75% lower than the corresponding prior period. The decrease in earnings relates to the electricity supply problem experienced at South Ocean Electric Wire Company (Pty) Ltd. during the months of February and March 2013 as reported in the SENS announcement dated 25 April 2013. As reported in the corresponding prior period, headline earnings per share was 11.7 cents per share and earnings per share was 11.7 cents per share. The unaudited results for the six months ended 30 June 2013 are expected to be published on or about 1 August 2013.
26-Jun-2013
(Official Notice)
Shareholders were advised that at the annual general meeting all the resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders.



Ordinary resolution No. 9 relating to the Issue of Shares for cash was withdrawn.



The relevant special resolutions will be lodged, as required, with the Companies and Intellectual Property Commission in due course.
25-Apr-2013
(Official Notice)
South Ocean Electric Wire Company (Pty) Ltd., the manufacturing subsidiary of South Ocean Holdings, has experienced electricity supply problems during the months of February and March 2013. The electrical cables supplying the electrical substation in the area have blown numerous times during the past two months causing electricity supply interruptions. This has led to loss of production output, increase in production costs and increase in scrap rates.



The Local council indicated that they are in the process of replacing the cables and planned to complete the project by middle of May 2013. South Ocean's results for the six months ending 30 June 2013 will be negatively impacted as a result of the electricity supply problem. A further trading update will be issued in due course to update shareholders to provide earnings forecast ranges for earnings per share and headline earnings per share as required by the JSE Listings Requirements.



South Ocean's interim results for the period ending 30 June 2013 are expected to be announced on or about 1st August 2013.
28-Feb-2013
(C)
Revenue for the year jumped 11.5% to R1.4 billion (R1.3 billion) and gross profit grew by 0.9% to R226.8 million (R224.7 million). Operating loss was R91.1 million (profit of R75.7 million). Total comprehensive loss attributable to equity holders was R118.1 million (income of R46.1 million). However, headline earnings per share increased to 36.3cps (30.6cps).



Dividend

Funds have been utilised in the expansion plan to increase production capacity during the year, hence the directors have agreed not to recommend a final dividend.



Prospects

Based on the trading history and exogenous market factors going forward, the 2013 year's results are expected to show an improvement, and the group continues to strive for increased market share and expansion of its product range.



The group remains committed to ensuring earnings enhancement, whilst improving the return on equity on a sustainable basis by diversifying its revenue streams and promoting internal efficiencies. Management's focus on cost control and improving working capital management will continue.



The group has for the first time entered the tender market and has submitted a number of tenders which will increase revenues if successful.
26-Feb-2013
(Official Notice)
South Ocean's headline earnings per share for the 12 months ended 31st December 2012 is expected to be between 20% to 30% higher than for the corresponding prior year and earnings per share is expected to be between 100 cents to 110 cents lower than for the corresponding prior year. The decrease in earnings relates to an impairment charge of R175 million to goodwill arising on the acquisition of the Radiant Group in 2007. The impairment was necessitated due to a decrease in earnings of the subsidiary, resulting from current market conditions and the further disruption due to the nationwide transport sector strike in September 2012. As reported in the corresponding prior year, headline earnings per share was 30.6 cents and earnings per share was 29.3 cents.



The audited results for the 12 months ended 31 December 2012 are expected to be published on or about the 28th February 2013.
28-Nov-2012
(Official Notice)
Ms. Min-Hui Lee has been appointed Mr. C Y Wu's Alternate Director on the board of South Ocean with effect 27 November 2012.



Mr. Li-Wen-Ping resigned as Mr. C Y Wu's alternate with effect 22 November 2012.
02-Aug-2012
(C)
Revenue increased by 5.5% to R652.9 million (R618.6 million). Gross profit was up 4.4% to R110.9 million (R106.3 million) and operating profit rose by 6.4% to R32.2 million (R30.2 million). Net attributable profit improved by 8.1 % to R18.3 million (R17 million). In addition, headline earnings per share grew slightly to 11.7c (10.8cps).



Outlook

The market for the next six months is likely to be even more challenging and it is anticipated that the results will be dependent on taking advantage of government's infrastructure spending programmes to increase revenue. The group has increased the manufacturing capacity of its electrical cable plant, enabling it to grow the business organically. Growth in the lighting segment is expected to be driven by focusing on more economical, energy-saving lighting solutions for corporate and industrial clients looking to reduce their electricity consumption as well as more economical light fittings and LED lamps, in line with current consumer spending trends. Radiant Group has also added a new corporate gifts division to increase its product range and expand into new markets. The Group will continue focusing on diversifying its product range and expanding its client base, including Government tenders.
29-Jun-2012
(Official Notice)
Shareholders are advised that at the annual general meeting all the resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders. The relevant special resolutions will be lodged, as required, with the Companies and Intellectual Property Commission in due course.
01-Mar-2012
(Official Notice)
Mr. Chia-Chou Wu has been appointed as Mr. Edward Pan's alternate on the board of South Ocean with effect 1 March 2012. Mr. Pan is a non executive director of South Ocean. Mr. Wu is the CEO of Matla Innovation (Pty) Ltd. and the Executive Deputy Chairman of Empowerdex (Pty) Ltd.
29-Feb-2012
(Media Comment)
Business Day highlighted that electronic and electrical equipment group South Ocean Holdings will tender for a portion of a R16 billion Eskom contract for low voltage cables . CEO Paul Ferreira said that should the group be awarded a tender, whether its Eskom, parastatals or the mining sector, it would contribute toward revenue and productivity. Mr Ferreira added that South Ocean's new plant has got spare capacity to accommodate a portion of tendering opportunities. Apart from Eskom, the company has set its sights on other possible contracts.
28-Feb-2012
(C)
Revenue increased by 10.8% to R1.3 billion (R1.1 billion) but gross profit fell by 5.5% to R224.7 million (R237.8 million). Operating profit also dropped by 14.5% to R75.7 million (R88.5 million), while profit for the year contracted to R45.8 million (R52.5 million). Furthermore, headline earnings per share decreased by 8.4% to 30.6cps (33.4cps).



Dividend

Funds have been utilised in the expansion programme to increase production capacity during the year, hence the directors have agreed not to recommend a final dividend.



Prospects

Government and Eskom's commitment to increase spending on infrastructure will create opportunities within the group. The expansion completed last year to increase production capacity will contribute to an increase in volumes and revenue. The market recovery is slower than anticipated, but the group is well- positioned to take full advantage of any improvements in the economy. The group remains committed to ensuring earnings enhancement through both organic and acquisitive growth, whilst improving the return on equity on a sustainable basis.
27-Feb-2012
(Official Notice)
Mr. Wen-Ping Li has been appointed as Mr. C Y Wu`s alternate on the Board of South Ocean Holdings Ltd. with effect 27 February 2012. Mr. Wu is a non executive director of South Ocean Holdings Ltd.

27-Jul-2011
(C)
Revenue increased by 12.5% to R618.6 million (R549.7 million). Gross profit declined by 10.4% to R106.3 million (R118.6 million). Net attributable profit decreased by 32.5% to R17 million (R25.1 million). In addition, headline earnings per share fell to 10.8c (15.9cps).



Outlook

In line with its strategic plan, the group has invested in a new manufacturing plant to grow the business organically. Radiant's growth is expected to be driven by the provision of energy saving solutions to corporate and industrial clients looking to reduce their electricity consumption. This trend is expected to continue whereby more industries move to support government and Eskom's initiatives to ease demand on the national grid.



The group will focus on increasing its market share, which will require a combined effort by the production and marketing teams. Product quality and client service remain a high priority within the group. The outlook for the second half of the year remains challenging. The group strategy is to maximise the opportunities in the current environment that will enhance shareholders' value.
19-Jul-2011
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the 6 months ended 30th June 2011 are expected to between 25% to 35% lower than for the corresponding prior period. As reported in the corresponding prior period, headline earnings per share was 15.9 cents per share and the earnings per share was 16.1 cents per share. The unaudited results for the 6 months ended 30th June 2011 are expected to be published on or about the 27th July 2011.
22-Jun-2011
(Official Notice)
Shareholders are advised that at the annual general meeting all the resolutions proposed at the meeting were passed by the requisite majority of shareholders. Ordinary resolution number 9 relating to the issuing of shares for cash was withdrawn prior to the meeting. The relevant special resolutions will be submitted to the Companies and Intellectual Property Commission in due course.
06-Jun-2011
(Official Notice)
Shareholders were advised that the company's annual financial statements for the year ended 31 December 2010 were posted to shareholders on 30 May 2011 and contained no modifications to the audited results which were published on 1 March 2011.



Notice of the annual general meeting

The notice of the annual general meeting was posted to shareholders along with the annual financial statements, and notice was given that the annual general meeting of the company will be held in the boardroom, 16 Botha Street, Alrode, at 10h00 on 22 June 2011, to transact business as stated in the notice of the annual general meeting.
02-Jun-2011
(Official Notice)
Mr. Edward Pan has decided to relinquish his role as the CEO of SOH with effect 1 July 2011. Mr Paul Ferreira will be appointed an executive director and the CEO in place of Mr. Pan from the same date. Mr. Pan will remain an executive director until 30 September 2011 and during that period will hand over his responsibilities to Mr. Ferreira. Mr. Ferreira is currently the COO of SOH and has been employed by the SOH group since 1999. Mr. Pan will retire with effect from 1 October 2011 and has agreed to remain on the board of SOH as a non executive director and assume the role of deputy vice chairman.
01-Mar-2011
(C)
Revenue for the year ended December 2010 increased by 18.8% to R1.1 billion (2009: R958 million). Gross profit improved by 12.1% to R238 million (2009: R212 million), while operating profit rose by 47.1% to R88 million (2009: R60 million), and total comprehensive income attributable to equity holders of the company climbed by 63.5% to R52 million (2009: R32 million). Furthermore, headline earnings per share continued the strong growth trend by rising to 33.4cps (2009: 24.1cps).



Dividend

Due to the funding requirements for the expansion programme in 2011 financial year, the directors have agreed not to recommend a final dividend.



Prospects

The group expects trading conditions to continue to improve. The operating units will continue to extract value out of their operations to ensure the group continues to increase value for the shareholders. Although there are signs of improvement in the economy, trading conditions remain challenging. The company's businesses are affected by the volatility of the RCP, copper supply and the foreign exchange fluctuations. Despite the trading conditions, management endeavours to grow the businesses and be competitive within its economic environment. The operating segments are well positioned to take advantage of any improvement in the economy. SOEW is currently constructing an additional manufacturing plant at its current facility to diversify its product range. The plant will be completed by the end of the first half of 2011 and will increase volumes from the second half of the year. The group is committed to deliver sustainable earnings and growth to its shareholders.
18-Feb-2011
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the 12 months ended 31 December 2010 are expected to be, respectively, between 30% to 40% and 60% to 70% higher than for the corresponding prior period. As reported in the corresponding prior period, headline earnings per share was 24.1 cents per share and the earnings per share was 20.2 cents per share. The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean's auditors. The results for the 12 months ended 31 December 2010 are expected to be published on or about the 1 March 2011.
25 Nov 2010 15:46:53
(Official Notice)
Ms. Debbie Tam has been appointed an independent non executive director of South Ocean Holdings Ltd with effect 25 November 2010.
05 Aug 2010 09:42:20
(Media Comment)
Business Day highlighted that improving copper prices are offering a glimmer of hope for listed investment holding group South Ocean, which says it is still suffering from the effects of the economic slump. South Ocean, a manufacturer of low voltage electric cable, benefits from high average copper prices as they spur demand for its products. The company indicated that adverse economic conditions had affected its performance, although a slight recovery was evident by the end of the period. Group CEO Koos Bekker said that South Ocean would continue to improve operating efficiencies, and further investment in operating capacity will enhance its ability to maintain production at optimal levels.
04 Aug 2010 14:28:50
(Official Notice)
Mr. Paulo Jose Monteiro Ferreira has been appointed as Mr. E H T Pan's alternate on the board of South Ocean Holdings Ltd with effect 4 August 2010. Mr. Ferreira is the chief operating officer of South Ocean Group and has been in the employ of South Ocean Electric Wire Company since September 1999.
04 Aug 2010 08:14:56
(C)
Group revenue for the six month period to June 2010 increased by 21.8% to R549.7 million (2009: R451.2million). The group gross profit of R118.6 million (2009: R98 million) is 21.1% up and operating profit of R41.7 million (2009: R20.3million) is 105.2% up compared to the same period in the previous financial year. Net attributable profit increased by 245.6% to R25.1 million (2009: R7.2 million). In addition, headline earnings per share of 15.9 cents (2009: 8.5 cents) represents a 87.1% increase.



Dividend

No dividend has been declared for the period under review.



Prospects

Group earnings for the next six months will be influenced by the copper price, the performance of the construction and building industry, infrastructure development, interest rates and the value of the Rand. The group will continue to focus on maintaining and growing the market share, by providing excellent products and service to customers. The group's model of extracting value from operations has been successful and it will continue to improve operating efficiencies.



Further investment in operating capacity will enhance the group's ability to maintain production at optimal levels. During the reporting period, the group experienced an increase in export sales and this trend is expected to continue throughout the second half. Although, the economy has shown signs of recovery, the outlook for steady improvement in operating conditions remains less certain. SOEW and Radiant will continue to pursue opportunities to increase volumes, improve efficiencies, control expenditure and manage working capital closely.
22 Jul 2010 15:50:23
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the 6 months ended 30 June 2010 are expected to be, respectively, between 80% to 90% and 240% to 250% higher than for the corresponding prior period. As reported in the corresponding prior period, headline earnings per share was 8.5 cents per share and the earnings per share was 4.7 cents per share. The financial information on which this trading statement is based has not been reviewed or reported on by South Ocean`s auditors. The results for the 6 months ended 30 June 2010 are expected to be published on or about the 4th August 2010.
04 Jun 2010 10:55:35
(Official Notice)
Shareholders are advised that at today's annual general meeting all the resolutions set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders. The special resolution will be submitted for registration at the Companies and Intellectual Property Registration Office in due course.N
24 May 2010 13:25:20
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2009 were posted to shareholders on 10 May 2010 and contained no modifications to the audited results which were published on 8 March 2010. PricewaterhouseCoopers Inc. audited the results and the annual financial statements of South Ocean and their reports are available for inspection at the registered offices of the company.



The notice of the annual general meeting was posted to shareholders along with the annual financial statements, and notice is hereby given that the annual general meeting of the company will be held in the boardroom, 12 Botha Street, Alrode, at 10:00am on 4 June 2010, to transact business as stated in the notice of the annual general meeting.

06 May 2010 17:21:44
(Official Notice)
Shareholders are advised that the Competition Commission has launched an investigation into certain alleged prohibited practices in the power cable market against South Ocean Electric Wire Company (Pty) Ltd ("SOEW") , a wholly owned subsidiary of South Ocean Holdings and three other competitors. SOEW management are co-operating fully with the authorities and view the allegations made by the Competition Commission in a serious light and will consult with our legal advisors. Further communication to shareholders will be made in due course.
06 May 2010 14:06:45
(Official Notice)
The Competition Commission is currently conducting a search and seizure operation at the premises of four electrical cables manufacturers and suppliers on suspicion of price fixing, market allocation and collusive tendering. The companies are Aberdare Cables (Pty) Ltd, Alvern Cables (Pty) Ltd, South Ocean Electric Wire Company (Pty) Ltd, and Tulisa Cables (Pty) Ltd which are all based in Gauteng. This follows a complaint initiated by the Commission on 16 March 2010.



The companies produce both high voltage cables for industrial use and low and medium voltage cables for households. Important customers include power supply authorities, municipalities, railway and transport authorities and construction companies. In terms of section 48 of the Competition Act, the Commission is authorised to enter and search premises and seize documents which have a bearing on an investigation. Section 46(2) (b) of the Act authorises a judge or magistrate to issue the Commission with a warrant allowing them and accompanying police officers to enter and search such premises.
12 Apr 2010 14:20:50
(Official Notice)
Ms. Melanie Chong has been appointed an independent non executive director of SOH with effect 1 April 2010. Ms. Chong is a Chartered Accountant and has previously been involved in corporate governance, risk management, compliance and credit management. Ms. Chong is also a BEE consultant as well as being involved in executive recruitment.
08 Mar 2010 08:01:43
(C)
Revenue decreased by 15.7% to R958 million (2008:R1.1 billion) for the year-ended 31 December 2009. Operating profit declined by 54.7% to R60 million (2008:R133 million). Earnings attributable to ordinary shareholders decreased by 48.2% to R32 million (2008:R61 million). In addition, headline earnings per share fell to 24.1cps (2008:65.7cps).



Dividend

Final dividend of 3 cents per share declared.



Prospects

The group has adapted to the changed economic conditions and anticipates competitive pricing and cautious demand from customers in the year ahead. There are signs of the economy improving, but the conditions experienced are still very difficult. Factors that continue to have an impact on the business include the exchange rates, copper supply and copper price. The operating segments will continue to build on the solid infrastructure and market share they have developed over the past few years, whilst maintaining the focus on superior quality products and customer service excellence. The group plans to utilise the cash to increase buffer stock due to supply problems experienced and for capital expansion to improve operational capacity in the operating segments. The group remains confident that it is well positioned to take advantage of the opportunities when market stability returns as the global recession recedes.
01 Mar 2010 14:24:38
(Official Notice)
Ms. Jennifer Law has resigned as Mr. Edward Pan's alternate on the board of South Ocean Holdings Ltd with effect 28 February 2010.
25 Feb 2010 14:54:51
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the 12 months ended 31 December 2009 are expected to be, respectively, between 60% to 70% and 40% to 50% lower than for the corresponding prior period. As reported in the corresponding prior period, headline earnings per share was 65.7 cents per share and the earnings per share was 39.1 cents per share.
14 Oct 2009 13:56:06
(Official Notice)
Shareholders are advised that Mr Koos Bekker, currently the Financial Director of South Ocean, will also assume the responsibility of Chief Executive Officer of Radiant Group (Pty) Ltd, a major subsidiary of South Ocean, effective immediately.
13 Aug 2009 09:32:29
(Official Notice)
Shareholders are advised that Mr H. L. Li has been appointed as a non-executive director of South Ocean with effect from 7 August 2009. Mr C. H. Pan has been appointed as his alternate director with effect from 7 August 2009.
12 Aug 2009 08:07:10
(C)
Group revenue for the six month period to June 2009 decreased by 21.5% to R451.2 million (2008: R574.9 million). The consolidated group gross profit of R98 million (2008: R183.5 million) is 46.6% down and operating profit of R20.3 million (2008: R115.5 million) is 82.4% down compared to the same period in the previous financial year. Net attributable profit declined by 89.7% to R7.3 million (2008: R70.9 million). In addition, headline earnings per share of 8.5 cents (2008: 45.3 cents) represents an 81.2% fall compared to the same period in 2008.



Dividend

No dividend has been declared.



Outlook

The earnings of the group for the next six months will be influenced by the copper price, the performance of the construction and building industry, infrastructure development, interest rates and the value of the rand. The group will maintain its focus on organic growth with SOEW and Radiant ideally positioned to capitalise on the market upturn. Investments at Radiant will allow this company to take advantage of increase in demand, while SOEW continues to produce cost effective and efficient electric copper wire products. The model of extracting value from the operations has been successful and the group will continue to concentrate on improving business efficiencies. The investment in operating capacity will further increase the ability to operate at optimal levels. The group's focus is to maintain market share.
31 Jul 2009 15:21:12
(Official Notice)
South Ocean's headline earnings per share and earnings per share for the six months ended 30 June 2009 are expected to be, respectively, between 75% to 85% and 85% to 95% lower than for the corresponding period. As reported in the corresponding period, headline earnings per share and the earnings per share was 45.3 cents per share.



The results for the six months ended 30 June 2009 are expected to be published on or about the 12th August 2009.
23 Jul 2009 13:10:18
(Official Notice)
Shareholders are advised that Mr J B Magwaza has decided, for personal reasons, to resign as an independent non executive director and chairman of S.Ocean with effect 31 July 2009. Mr Ethan Dube, an independent non executive director of S.Ocean will be appointed the chairman of S.Ocean with effect 31 July 2009.
01 Jul 2009 13:24:22
(Official Notice)
Shareholders are advised that Jennifer Law, currently an independent non-executive director, will be joining SOH in a permanent capacity as its Chief Operating Officer to take effect from 1 July 2009. Following this appointment Ms. Law will become Mr. Edward Pan?s alternate director on the SOH board.
22 Jun 2009 15:51:41
(Official Notice)
Shareholders are advised that at the annual general meeting all the resolutions (except for ordinary resolutions numbers 2, 3 and 4) set out in the notice and proposed at the meeting were passed by the requisite majority of shareholders. Membership of the board was restructured to reduce the number of executive directors from the current five to two. Messrs Ferreira, Stein and Schwartz were due to retire at the annual general meeting and in terms of the new structure did not offer themselves for re-election at the annual general meeting. As such shareholders did not vote on ordinary resolutions numbers 2, 3 and 4 which dealt with the re-election of the above directors. Mr Ferreira will remain as an executive director of South Ocean Electric Wire Company (Pty) Ltd and Messrs Schwartz and Stein will remain as executive directors of Radiant Group (Pty) Ltd. The special resolutions will be submitted for registration at the Companies and Intellectual Property Registration Office in due course.
02 Jun 2009 09:01:39
(Official Notice)
Shareholders are advised that the company's annual financial statements for the year ended 31 December 2008 were posted to shareholders on 29 May 2009 and contained no modifications to the audited results which were published on 10 March 2009. PricewaterhouseCoopers Inc audited the results and the annual financial statements of South Ocean and their reports are available for inspection at the registered offices of the company.



The notice of the annual general meeting was posted to shareholders along with the annual financial statements, and notice is given that the annual general meeting of the company will be held in the boardroom, 12 Botha Street, Alrode, at 11:00am on 22 June 2009, to transact business as stated in the notice of the annual general meeting.
10 Mar 2009 07:50:38
(C)
Revenue increased by 33.3% to R1.1 billion (R852.6 million) for the year-ended 31 December 2008. Operating profit declined by 28.4% to R132.7 million (R185.4 million). Earnings attributable to ordinary shareholders decreased by 51.4% to R61.1 million (R125.8 million). In addition, headline earnings per share fell by 32% to 65.7cps (96.6cps).



Dividend

No final dividend has been declared.



Prospects

The group remains steadfast in its strategy of building a solid foundation for future growth. The depth and duration of the global economic crisis remains uncertain. Under such circumstances, the difficult trading conditions that we are experiencing in both divisions will continue until economic stability returns. The recent cut in the interest rate will relieve pressure on consumers; however management does not believe that a recovery in the industry will occur in the near future.



In light of the above, S.Ocean expects 2009 to be a challenging year. The immediate priority is to look for opportunities to maintain and grow market share and improve on efficiencies in all the aspects of S.Ocean's businesses. The group will continue to concentrate on effective management of working capital and costs. Management is pleased with the performance of Radiant for the first full year with the group. This acquisition has bedded down well. The group remains convinced of the inherent potential of the market and will be well positioned when market stability returns.
06 Mar 2009 15:37:26
(Official Notice)
Ms. Jennifer Law has been appointed an independent, non-executive director of South Ocean Holdings Ltd with effect 6 March 2009. Mr. David Ko has resigned as a director of South Ocean Holdings Ltd with effect 6 March 2009.
03 Mar 2009 08:32:04
(Official Notice)
S.Ocean's headline earnings per share and earnings per share for the twelve months ended 31 December 2008 are expected to be, respectively, between 25% and 35% and 55% and 65% lower than for the corresponding period. As reported in the corresponding period, headline earnings per share was 97.4cps and the earnings per share was 97cps. The results for the twelve months ended 31 December 2008 are expected to be published on or about 10 March 2009.
14 Aug 2008 07:58:23
(C)
Revenue for the six month period to June 2008 increased by 79.5% to R574.9 million (R320.3 million). Operating profit rose by 92.9% to R115.5 million (R59.8 million) and net profit attributable to ordinary shareholders for the same period was up by 68.6% to R70.9 million (R42 million). Headline earnings on a per share basis grew 23.5% to 46.2cps (37.4cps).



Dividend

An interim ordinary dividend of 7cps has been declared.



Prospects

S.Ocean's commitment to delivering value to shareholders continues to drive the group's strategy. The group will continue its unwavering focus on operational efficiency. S.Ocean will also continue to grow organically by expanding existing operations. The earnings of the group for the next six months will be impacted by the copper price, the performance of the construction and building industry, infrastructure development, the impact of the increase in operational capacity as well as interest and foreign exchange rates.



The government's commitment to infrastructure and housing development combined with the strong performance of private sector construction and manufacturing means the group is well positioned to take advantage of the opportunities and growth these markets present. As trading conditions are expected to remain difficult the board anticipates that the same growth rate will not be achieved in the next six months.
08 Aug 2008 16:52:39
(Official Notice)
S.Ocean`s headline earnings per share and earnings per share for the six months ended 30 June 2008 are expected to be between 20% and 30% higher than for the previous corresponding period. Headline earnings per share and earnings per share for the previous corresponding period were 37.4 cents per share. The results for the six months ended 30 June 2008 are expected to be published on or about 14 August 2008.
25 Jun 2008 16:45:37
(Official Notice)
All ordinary and special resolutions, as more fully detailed in the notice of the annual general meeting, were proposed and passed by shareholders at the annual general meeting of S.Ocean Holdings. The special resolution will be lodged with the Registrar of Companies, for registration.
19 Mar 2008 09:09:01
(Media Comment)
Koos Bekker, the financial director of S.Ocean, was quoted in Business Report as saying that the company would seek to position its electrical cable making business as an exporter to the rest of Africa in order to lessen its dependence on the South African construction boom. Presently, S.Ocean, was able to sell into the local market at healthy margins.
17 Mar 2008 07:47:06
(C)
Revenue for the twelve months to 31 December 2007 compared to the comparative period in the prior year increased by 65.5% to R852.6 million (2006: R515.3 million). Profit after tax increased by 107.9% to R125.8 million (2006: R60.5 million) and headline earnings increased by 108.8% to R126.3 million (2006: R60.5 million). Headline earnings per share increased by 58.4% from 61.5 cents to 97.4 cents per share while earnings per share increased by 57.5% from 61.6 cents to 97.0 cents per share. Operating profit increased by 96.4% from R94.4 million to R185.4 million. The finance income of R4.3 million was earned on the proceeds received from the shares issued on listing. The group earned a foreign exchange profit of R3.4 million during the financial year.



Dividends

A final dividend of 20 cents per share was declared for the year ending 31 December 2007.



Prospects

The group had an extraordinarily successful year. In particular, the cable manufacturing division has achieved the targets that were set at listing almost two years ahead of schedule. The group has brought on stream the first phase of capacity expansion and are already maximizing the returns from this investment. Phase 2 will be fully operational by end of March 2008. The groups businesses are both exposed to the vagaries of the South African economy. The fundamentals however remain strong and the group expects a stable performance even in a weaker economy thanks to Radiant's leading market position and strong brands. Provided there is no significant effects from the existing power crises and no major economic slowdown in the year ahead, the group is confident that they will achieve double digit earnings growth in 2008.
13 Mar 2008 17:04:45
(Official Notice)
Mr Eric Li has been appointed as Mr Chung-Hsiang Pans alternate director on the board of directors of South Ocean Holdings Ltd with effect 13 March 2008.
21 Feb 2008 09:40:15
(Official Notice)
South Ocean`s headline earnings per share and earnings per share for the twelve months ended 31 December 2007 are expected to be between 50% and 60% higher than for the previous corresponding period. Headline earnings per share and earnings per share for the previous corresponding period were 62 cents per share. The results for the twelve months ended 31 December 2007 are expected to be published on or about 17 March 2008.
15-Sep-2015
(X)
South Ocean Holdings Ltd. is an investments holding company that is listed on the main board of the JSE. The Group manufactures low voltage electrical cables through its subsidiary, South Ocean Electric Wire Company (Pty) Ltd. and imports and distributes light fittings, lamps and electrical accessories in Southern Africa through its subsidiary, Radiant Group (Pty) Ltd. Its products are sold to wholesalers and distributors who supply mainly the building and construction industry. South Ocean Holdings also has investments in light fitting assembly company and a property holding company.


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