full year. African Bank’s prof its, and ultimately its share price, will certainly recover, but the real question is when. Right now it is in a tail spin and it is going to take some time to recover.
African Bank Investments the bigger issues are getting in the way. It plans to sell MTEC, has converted the preference shares to rolling debt and is considering a rights issue. If it is able to conclude all these within a reasonable timeframe (the current f inancial year) it could come out the other end looking much better. However, the risks are not insignificant and a lot could go wrong, leaving the company in a tight spot.
Jasco Electronics Holdings