What do we each have to do to make our leadership contribution?
Our leadership contribution is indelibly entwined with our leadership purpose and must be something that we can measure to be credible. How do we actually go about making our contribution?
The controversy regarding premature withdrawals of contributions from an environmental rehabilitation trust fund is currently the subject of concern and debate, especially in light of recent media reports indicating that companies have gained access to these funds without first obtaining a closure certificate.
If you are reading this edition of without prejudice, a number of submissions are being presented for students who are thinking of entering the legal profession or who have recently qualified. In both cases, you need to get to work and a car is near the top of your priority list. If you are tired of driving your Mum's first car, a now 35-year-old Golf or some dead relative's old bakkie, and want to buy your first new car, read on.
In the late 1990s, MP3s had the music industry up-in-arms. Music was being encoded or "ripped", as it was popularly referred to, in a format called MP3 and shared over the Internet. In 1999, Napster, a peer-to-peer file sharing platform, revolutionised music piracy for the masses. Copyright holders were up in arms, and rightly so; in the next decade sales would be cut in half, dropping from 14.6 billion to 6.3 billion.
British journalist and Master of Wine, Tim Atkin, recently released his sixth annual guide to South African wine. According to Atkin, the Cape is making the best wines in its history with a wine industry that is dynamic, exciting and still evolving. He is of the view that South Africa is on par with any other New World wine producing country in terms of quality, and ahead in terms of value.
JSE Listed M&A
Merger negotiations between PPC and Afrisam, which have been ongoing throughout the year, have taken yet another turn. The original Heads of Terms announced in February was terminated in August but the parties agreed to continued discussions. In early September, PPC advised that Fairfax Africa Investments had announced a Firm Intention to make a partial offer to acquire PPC ordinary shares up to the value of R2bn at an offer price of R5.75 per share. One of the offer conditions was the merger of PPC and Afrisam on a share exchange ratio of 58 (PPC) : 42 (Afrisam). Ten days later, PPC announced that Dangote Cement had made a non-binding communication of interest to acquire the company. An independent board has been established to evaluate the Fairfax offer and, according to the PPC website, they anticipate a higher partial offer... watch this space for further updates.