| Restructuring may be stalling Acsa listing
Pretoria - The planned listing of Airports Company South Africa (Acsa) appears to have stalled and with it the introduction of additional black shareholders to the parastatal. Acsa owns and operates the country's seven principal and three major international airports. Its management and staff were given an option to buy 7.8 percent of the company at a 10 percent discount to the price that Aeroporti di Roma (ADR) of Italy paid for its shares in 1998. However, the option can only be exercised when its shares are listed on a stock exchange. The government said in 2001 that Acsa would not be listed before 2004. The Public Investment Corporation acquired ADR's 20 percent for R1.675 billion in 2005. ADR made a profit of about R785 million on the sale of the shares, for which it paid R890 million in 1998, and has received about R180 million in dividends from Acsa since then.
Sentry Select Capital Corp. Announces April 2007 Distributions for ...
TORONTO, ONTARIO -- (MARKET WIRE) -- 04/10/07 -- Sentry Select Capital Corp. is pleased to announce the April 2007 distribution amounts for the following income trusts. Future distributions Distributions are based upon the current make-up of each individual trust's portfolio and the indicated distribution policies of the income funds within each of the trust's portfolio. If the make-up of the portfolios changes or if such income funds make distributions other than in accordance with their indicated policies, the distributions could change. Website To find out more about each trust, including portfolio holdings, net asset values and investment objectives, please visit www.sentryselect.com. Sentry Select Capital Corp.
Business Briefs:
BERLIN: China will not participate in discussions on the global economy at a meeting of Group of Seven (G7) nations this weekend despite being invited to do so, a German finance ministry official said on Tuesday. There are very practical reasons to do with domestic policy which will prevent the Chinese finance minister and central bank head from being present in Washington, the official told reporters, speaking on condition of anonymity. That means the discussion on the global economy will take place without China, he said, but added China would be represented at separate outreach talks at the meeting involving countries with large current account surpluses. reuters
Deutsche hires bankers from Citi
SINGAPORE: Deutsche Bank has hired 18 private bankers from rival Citigroup in Singapore, sources said on Tuesday, marking the second serious exodus from the U.S.
Hackers Indicted for Internet Brokerage Intrusion
A federal grand jury in Omaha, Neb., has indicted three individuals on charges of conspiracy, fraud and aggravated identity theft stemming from a high-tech, international fraud scheme designed to hijack online brokerage accounts for profit, Assistant Attorney General Alice S. Fisher of the Criminal Division, U.S. Attorney Joe W. Stecher for the District of Nebraska, FBI Executive Assistant Director for Criminal Investigations Michael A. Mason, and Securities and Exchange Commission (SEC) Chairman Christopher Cox announced today. The 23-count indictment, returned in January 2007 and unsealed today, charges Jaisankar Marimuthu, 32, a resident of Chennai, India, and Chockalingam Ramanathan, 33, a resident of Chennai, India, each with one count of conspiracy, eight counts of computer fraud, six counts of wire fraud, two counts of securities fraud, and six counts of aggravated identity theft as part of this “hack, pump and dump" scheme.
Hollinger Insiders Allowed to Trade Shares, Regulator Says
April 10 (Bloomberg) -- The Ontario Securities Commission agreed to lift a ban on trading of Hollinger Inc. shares by current and former insiders after the newspaper company, once controlled by Conrad Black, resumed filing financial reports. A three-person panel agreed with a joint submission by the Toronto-based company and the regulator that the public's interest won't be hurt by allowing insiders to resume trading the stock. Canadian securities regulators imposed the ban on current and former managers and directors in June 2004 because the company had failed to file financial statements since 2003. Last month, Hollinger filed financial reports covering four years, and is continuing to disclose ``material developments'' to the public, Shawn McReynolds, a lawyer for the company, told a hearing in Toronto today.
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