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Press releases
2017
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The board of directors of Omnia (“the Board”) has long recognised the need for significant management and employee ownership participation within the Group. It believes that the Group’s success arises from the excellence and long-term dedication of its people by “creating customer wealth through leveraging knowledge”. The Board also believes that an effective partnership arrangement between the shareholders of Omnia, its management and its people enhances the performance and ultimate wealth of the Group.
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Johannesburg, 23 August 2017 - Global Credit Ratings has today affirmed the national scale Issuer ratings for Omnia Holdings Limited of A-(ZA) and A1-(ZA) in the long term and short term respectively; with the outlook accorded as Stable. Global Credit Ratings has concurrently affirmed the national scale Issuer ratings for Omnia Group Investments Limited of A-(ZA) and A1-(ZA) in the long term and short term respectively; with the outlook accorded as Stable.
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Omnia shareholders are advised that the Company, through its subsidiary, Omnia Group (Pty) Ltd., has entered into a sale of shares agreement with Lubricant Additives Solutions and Technology and Autumn Storm Investments 294 (Pty) Ltd. (“Autumn Storm”), for 90% of the ordinary shares of Umongo Petroleum (Pty) Ltd. (“Umongo”) for a maximum aggregate acquisition consideration of ZAR780 million (the “Transaction”).