It was announced on Wednesday 27th December that the Rossenfeld Consortium had
acquired the 6.3 million shares in Financial Insourcing Specialists Limited
(Insors) that were held by Specialised Outsourcing Limited (Outsors).
The public declaration by Outsors of their intention to sell the shares had
caused market uncertainty regarding a potential overhang for a protracted
period. The Rossenfeld Consortium saw this as an opportunity to acquire the
shares and to then place them in the hands of more appropriate shareholders.
A further announcement was made on Friday 19th January that 3 625 000 of the
shares had been placed with an empowerment partner, namely Safika Holdings
(Pty) Ltd represented by Moss Ngoasheng former economic advisor to the State
President and a member of the Board of Insors.
We are pleased to announce that the balance of the shares (2 675 000) have been
placed with institutional investors at a price of 425cents per share.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
