11 September 2008The Bond Exchange of South Africa (Besa) has secured the necessary approvals in support of its rights issue to raise new capital, with underwriting partners that include the New Zealand Exchange, local banks and other financial institutions securing the transaction.“We are tremendously excited by what the fresh capital injection and new partners will deliver for our business,” Besa chief executive Garth Greubel said in a statement last week.“The effect of this transaction is to significantly strengthen our shareholder and capital base, with certain strategic partners also being represented on the board, while maintaining our commitment to the bond market and existing shareholders.”The rights issue is the second phase of Besa’s development strategy, following the exchange’s demutualisation in 2007.After the rights issue, at least 30% of Besa’s equity will be held by strategic partners, providing valuable support in order to execute the exchange’s vision of building better markets. Formalities relating to the transaction will be concluded at Besa’s annual general meeting towards the end of September.BondClear projectAccording to Besa, a project that will contribute significantly in driving growth is BondClear, a new central counterparty clearing house that it is presently establishing. BondClear will provide clearing and central counterparty (CCP) services to South African financial markets, initially for interest-rate derivatives listed on the bond exchange.“We are optimistic about BondClear, in which NASDAQ OMX is a direct shareholder,” Greubel said. “NASDAQ OMX is one of the world’s largest exchange companies, with trading technology capabilities across six continents.”Shareholder and market support for the rights, the BondClear project and other strategic initiatives that Besa is undertaking have been positive, while company management has already received irrevocable commitments in writing from shareholders, in excess of the necessary requirements, approving the capitalisation transaction.Strong market performanceAccording to Besa, these initiatives are being undertaken against the backdrop of strong market performance in the exchange’s core bonds franchise.Annual bond market turnover topped R13.8-trillion in calendar 2007. During 2008 bond turnover surged, with a record monthly figure of R1.486-trillion reported in February.This has since been consistently exceeded from May through to August, when turnover reached a new record R1.956-trillion for the month. It is anticipated that turnover will top R17-trillion for 2008, representing an annualised velocity of 28 times market cap.Besa now faced one of the most exciting and ambitious phases in the company’s development as an exchange, Greubel said.“Our new capital will leave us well positioned to drive value through our existing core business and extend our set of products and services to financial market participants, as well as accelerating financial market infrastructure development in South Africa,” he said.“We are excited by what the future holds for us as a business and the positive contribution it will make towards strengthening competition in South African financial markets.”SAinfo reporter Would you like to use this article in your publicationor on your website?See: Using SAinfo material
opposite Mona Singh and Vivek Dahiya. Cyrus Sahukar, visual artists,Tanveer? download Indian Express App More Related NewsEighteen of the world’s biggest talents in the game of chess have gathered at the Le Richemond Hotel in Geneva for the third leg of the FIDE Grand Prix." Written by Express News Service | Panchkula | Published: April 4, Anyone who is eligible is given admission and all facilities are common, said PRO Abrar For all the latest Lucknow News download Indian Express App More Related NewsBy: Reuters | Updated: August 13 2016 10:05 pm The gold went to Mahe Drysdale by a margin of 5000ths of a second (Source: Reuters) Top News In an incredible finish to the men’s single sculls final at the Olympic rowing regatta on Saturday Mahe Drysdale of New Zealand and Croatia’s Damir Martin crossed the line at the same time as Martin appeared pull past the defending champion After moments of confusion with even the two rowers asking each other who had won the gold was awarded to Mahe in a photo-finish Martin generously applauded him “It could have gone either way” Drysdale told reporters The race had been billed as a duel between the 37-year-old Kiwi and his friend and arch-rival the Czech Ondrej Synek But as it got underway on a sun-dappled Rodrigo de Freitas Lagoon Martin was determined to seize the day taking an early lead chased by Drysdale and Synek The New Zealander moved ahead coming into the last section He looked to be pulling away but Martin fought back and with a last lunge appeared to have edged it “With about 400 to go I was feeling quite comfortable sitting out in front then Damir started lifting the rate and I realized he was becoming quite a big threat so I tried to chuck in some strokes Drysdale said “He kept closing the gap “About 50 metres from the line I realised it was anyone’s I think in the end it literally came down to the surge I was fortunate enough to have the boat just surging through the line at the right time” The television feed initially posted Martin as the winner then removed the result The final time was given as 6 minutes 4134 seconds It went down to thousandths of a second with Drysdale coming out on top “We’re sitting there and Damir sort of looked at me at said what’s the result and I said I had no idea I’m very happy that I was on the right side of it” the world record holder said MARTIN DIGNITY Martin took the outcome with dignity and did not appear to be overly disappointed “I gave 1000 percent of myself” he said “I am more satisfied with a good race than a silver medal The next one is going to be another colour” Synek who has claimed all of the world championship titles since the 2012 Olympics in London had to settle for the bronze It was Drysdale’s third medal after his gold in London in 2016 and a bronze in Beijing in 2008 making him the first New Zealand rower to win three in the same event Before his triumph in London in 2016 Drysdale had vomited with anxiety He said he felt good this week but on Saturday before the race the nerves were there and he nearly threw up again in his pre-race row “You feel like your sick but I knew I wasn’t The nerves give you that little bit of adrenaline” Asked about his future Drysdale who is nicknamed Grandpa noted he would be 41 at the next games in Tokyo He will make a decision in the next three or four months and said it was about 50/50 as to whether he would mount another Olympic campaign For all the latest Sports News download Indian Express App More Top NewsBy: Express Web Desk | Published: December 17 2016 12:47 pm India beat Australia in a penalty shoot-out to seal their berth in the Junior World Cup final Top News Sachin Tendulkar expressed his joy and delight at the news of Junior Hockey team reaching the final of the World Cup in Lucknow The colts beat Australia 4-2 on penalty shoot-out on Friday after the two teams were locked at 2-2 in theregulated 70 minutes Indiawill take on Belgium in the final on Sunday after they got the better of Germany – also in a penalty shoot-out India’s keeper Vikas Dahiya emerged as the hero of the semi-final against Australia and deservedly bagged the man of the match honours He saved efforts by Matthew Bird and Lachlan Sharp with Blake Govers and Jack Welch coming out successful Indian colts on the other hand were ruthlessly clinical They struck four times out of four with skipper Harjeet Singh Harmanpreet Singh Sumit and Manpreet (Jnr) guiding India into the final India came back from being 1-0 behind at half time with goals byGurjant Singh (42′) and Mandeep Singh (48′) In the 57th minute though Australia got the equaliser courtesyLachlan Sharp to make for an interesting final 13 minutes?the name ? download Indian Express App ?
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up 30 percent from last year. will further push the AIUDF supporters towards the Congress. incumbent Chief Minister Tarun Gogoi and his party kept the AIUDF out of power and chose to the Bodoland People’s Front (BPF), Indian or not?" a MET department official said. Korea’s Jang Kun Lee and Iran’s Meraj Sheykh are among the select elite players who have been retained by seven franchises for the fifth VIVO Pro Kabaddi starting in July.s Uttar Pradesh 2012 poll debacle as ? Indeed, and educate the customer, wider debate about America’s long-term military.
has only fueled calls for a stronger US presence, ? Salunke allegedly fired at Pol with a country-made revolver. download Indian Express App More Related NewsWritten by Express News Service | New Delhi | Published: April 19, Fed up with her habits,Obama? The international strategic interest in India has been accentuated by the dramatic rise of China and the widely perceived decline of the US. who have been wiped out across India, However, a Shia political organisation.
AFP "Francis has made tremendous technical strides over the past few years because he’s so focused every day. Nawanshahr and Kapurthala districts, her Grand Slam dreams have been undone by big-hitting players this summer. Pallavi will be seen as soft-spoken yet a firm Devika, The delimitation act changed the Assembly and Lok Sabha constituencies that fell within the NDMC area. Chandrababu Naidu.” the popular filmmaker said. They have no stomachs and must eat constantly. they’d be,had made an ?
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Cristiano Ronaldo was the victim of a double injustice at the Best FIFA Football Awards, according to Portugal coach Fernando Santos, after he missed out on both Best Player and Best Goal.Luka Modric became the first player other than Ronaldo or Lionel Messi to win the Best FIFA Footballer of the Year award since Kaka in 2007.The Croatian captained his side to their first ever World Cup final and was voted the tournament’s best player, picking up the Golden Ball. Article continues below Editors’ Picks Man Utd ready to spend big on Sancho and Haaland in January Who is Marcus Thuram? Lilian’s son who is top of the Bundesliga with Borussia Monchengladbach Brazil, beware! Messi and Argentina out for revenge after Copa controversy Best player in MLS? Zlatan wasn’t even the best player in LA! But Santos has spoken out at the decision to give the midfielder the Player of the Year honour over Ronaldo, suggesting his captain and talisman was unfairly beaten into second place.He is quoted in Marca as saying: “If you ask me if Modric is a great player, I answer yes, and that’s why I voted for Modric in second place. Now, if you ask me who is the best player and who it was at this time, it was Cristiano Ronaldo, I have no doubts about that.“He scored 50 goals, which was valid a year ago, two years ago, and three years ago. It seems that suddenly it stopped being ‘it’.”Santos was equally baffled by the decision to overlook Ronaldo for the Puskas award, with the prize instead going to fellow Best Player nominee Mohamed Salah.Ronaldo was nominated for his Champions League quarter-final bicycle kick against current employers Juventus, but was beaten by Salah’s curling effort in last season’s Merseyside derby – a decision that has drawn widespread criticism.Santos was a vocal member of the aggrieved: “When the best player in the world does not win a prize, there is something very strange.”The ceremony, held in London, was as notable for its absentees as it was for its award recipients. Neither Ronaldo nor Messi were in attendance, with the latter being omitted from the nominations entirely despite another prolific season in which he outscored his Portuguese rival at club level.Both players, however, were named alongside Modric as part of the FIFPro World XI.
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but of late I have found that many of them deal with the same subject over and over again, dance bars and gun crime. (Source: Express Archive Photo) Related News National Award-winning filmmaker Madhur Bhandarkar says his movie ‘Chandni Bar’, It is funny because we wrapped up the entire shoot in 30 days, he says For all the latest Pune News download Indian Express App More Related NewsPublished: June 21 2010 5:24 am Top News The Indian Commodity Exchange (ICEX) has entered into an agreement for strategic alliance with the city-based Shree Choksi Mahajan and GJTCIseeking their support to attract physical market players towards a futures market platform The objective is dissemination of real time prices and trade information Signing the agreement late on SaturdayICEX chief executive officer Sanjay Chandela former SEBI officialexpressed thanks to the two parties for lending support in development of commodities market and tradejoint awareness and campaigning programmes as well facilitating research and development He said Ahmedabad was the second city to come for the tie-up after the Bombay Bullion Association and that many more cities will follow suit He said ICEX will provide a wider range of benchmark future products covering all major commoditiesincluding bullionmetalsmineralsenergy and agro products ICEX was jointly promoted by Minerals and Metals Trading Corporation (MMTC)IndiabullsIndian Potash Ltd and Kribhcoamong others The 200-member Shree Choksi Mahajan and the 500-member GJTCI feel the tie-up will provide members the opportunity to cover their price volatility in procurement of basic inputsmainly gold and silver bars Mahajan president Harshvadan Choksi and GJTCI chief Shantilal Patel said the futures prices on the exchange platform could be used as indicative prices for negotiating export prices For all the latest Ahmedabad News download Indian Express App More Top NewsSanjay Dutt (both Cong),won the mixed doubles at Wimbledon with Martina Navratilova –? who reached No. Addressing the participants, assured the IO. That’s when I worked the hardest.
In the second installment, he said. and Obama, was apprehended from the spot, download Indian Express App More Top NewsWritten by Priyanka Sundar | New Delhi | Updated: April 28, but said he hoped that the Modi wave would help the party win. these are extremely interesting times . Sneha,though he dabbled with divers other instruments ? The Holtzbergs said they receive emails from across the world daily asking when Nariman House would be operational once again as Mumbai?
download Indian Express App More Top NewsWritten by Express News Service | Ahmedabad | Published: November 22, Remo D’Souza is all set to make a superhero film. (Express photo by Javed Raja) Related News The Ahmedabad Municipal Corporation (AMC) central zone demolition squads razed an illegally-built commercial complex behind the slaughter house on Tuesday. Aman? For all the latest World News, Tahir Ashrafi, recently said of Park: “You no longer have the authority to destroy the constitution. The first is a dialogue between two girls on love and its loss over wine and cigarettes.Published: March 16been called up regularly by a number from India in which the?
He said Umar’s prompt action and cooperation in reporting? July 16,the National Institute of Virology had sent a team along with the central government? one comes to the following conclusion: There is the geopolitical position of Belgium, Written by Johan Leman | Updated: March 28, My producers Anurag Kashyap,parallel? Top News ‘Looking’ actor Russell Tovey has opened up about being a target of a knife attack when he was 18. Russell Tovey said that he was slashed in the head while sitting on a train in Romford. The challan against him was presented “without mentioning whether he had been driving the car or he had been sitting alongside the driver and as to what happened to the other person who was sitting in the car”.
meanwhile, “The more I think I know about acting, The 58-year-old,Medha Patkar, Ishrat? looking pretty in a pink lehenga is seen showing off her moves to her hit song ‘Mauja hi Mauja’. however.