(Originally published on 24 July 2014 on fin24, written by David van Rooyen)
Alexander Forbes returned to the JSE in July 2014, after private equity investors delisted the financial services group in 2007. By the early afternoon it was one of the busiest shares on the JSE in terms of volume and one of the top ten shares in terms value. Alexander Forbes issued new shares in an initial public offering at R7.50 per share, which enabled the company to raise R3.7bn and put its market value at about R10bn.
A big congratulations goes out to Denys Edwardes (Pty) Ltd in PE for receiving the prestigious RGT Smart CSI award at the VWSA conference. Founded in 1936, Denys Edwardes is the oldest auto body repair company Port Elizabeth, and almost 80 years later this family business is still an industry leader.
SAMBRA regional managers Nolan Noah and Raoul Spinola recently represented SAMBRA and the RMI at the Innibos golf day which took place at the Nelspruit Country Club.
SAMBRA members are urged to cross-check the occupation codes and grades used on their returns, and to ensure that these are in line with the Motor Body Repair Industry codes supplied by MIBCO.
The correct use of these codes and grades is vital to facilitate strategic planning within the industry, and to ensure that employee deductions are correct within the MIBCO Forecast.