Listed investment holding company Sekunjalo is in talks that may affect its share price, it cautioned shareholders yesterday.
Sekunjalo has stakes in several industries, such as fishing, IT and financial services. It is also the black economic empowerment partner to global telecommunications giant BT in its South African operations. Sekunjalo has a 30% stake in BTSA.
Yesterday, the company said the talks may have a material effect on the price of its stocks. Its stock closed unchanged at 59c. Its 52-week high is 62c, which the stock hit on 12 October; while its 52-week low was 34c, which it reached on 22 October last year.
Sekunjalo did not disclose the nature of the talks, but told shareholders to “exercise caution when dealing in the company's securities until a full announcement is made”.
In its commentary on its results for the six months to February, the company said it was “in a position to make new investments, and will continue our strategy as a partner of choice in pursuing joint-venture or equity arrangements with multinational companies that are keen to secure African opportunities”.
Sekunjalo added it believed its IT unit would expand and “has strong growth potential by providing innovative IT solutions to the public and private institutions”.
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