MIH Holdings and M-Web are set to go their separate ways on the JSE as MIH Holdings de-links its shares from M-Web.
The de-linking will be effective from close of business on Friday, 30 July, with M-Web listing under the industrial development stage sector of the JSE on Monday, 2 August.
However, MIH Holdings has made a commitment to an equity investment of up to 10% in M-Web through its subsidiary MIH Limited.
"The market has been asking us for the de-linking to allow for a pure Internet play, but we wanted to continue our relationship with this growing company and decided to invest in M-Web," says Cobus Stofberg, CEO for MIH Holdings.
Antonie Roux, CE of M-Web Holdings, agrees: "We believe the de-linking will be welcomed by investors. Worldwide, Internet stocks provide one of the most exciting investment opportunities. With this development, SA investors will be able to gain direct exposure to pure M-Web stocks for the first time."
A circular will be mailed to shareholders on Monday, 19 June, in which existing share certificates will be recalled. This will allow MIH Holdings and M-Web ordinary shareholders to be issued with separate share certificates.
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