The shares of tile and sanitaryware manufacturer Ceramic Industries will be delisted from the JSE from the commencement of trade today.
This follows independent shareholders in Ceramic Industries owning 5.49 million Ceramic shares or 21.1 percent of the company’s issued share capital accepting a R130 a share offer from listed tile retailer Italtile and Rallen, the controlling shareholder in both firms.
Ceramic Industries yesterday advised independent shareholders in the company that the joint offer had been successfully concluded and closed at noon on Friday.
It said share certificates in the unlisted Ceramic Industries would be posted today to independent Ceramic shareholders who had elected, at their own risk, to retain all or some of their Ceramic shares.
Ceramic Industries chief executive Nick Booth said in September that the firm would apply to the JSE for the termination of its listing if the joint offer was accepted. – Roy Cokayne
