Brimstone Investment Corporation’s Subsidiary Increases Stake in Company

In a recent disclosure announcement, Brimstone Investment Corporation Limited revealed that its subsidiary, Septen Investments Proprietary Limited (“Septen”), has significantly increased its stake in the company. This move, disclosed in accordance with South Africa’s Companies Act, marks a notable development in Brimstone’s ownership structure.

Key Details

According to the announcement made on January 29, 2024, Septen has acquired an interest in the “N” ordinary shares of Brimstone, bringing its total beneficial ownership to 5.15% of the total number of “N” ordinary shares currently in circulation.

Table: Summary of Disclosure

Board Confirmation

The Board of Directors of Brimstone has affirmed the accuracy of the disclosed information. They assert that, to the best of their knowledge and belief, the provided information is true and complete, with no significant omissions. The board’s confidence in the accuracy of the disclosure underscores the transparency and integrity of the company’s reporting practices.

Regulatory Compliance

In compliance with Section 122(3)(a) of the Companies Act, Brimstone has submitted the required notices to the Takeover Regulation Panel. This step ensures that all regulatory obligations are met, and the disclosure process is conducted in accordance with legal requirements.

Conclusion

Brimstone Investment Corporation’s disclosure of Septen’s increased stake underscores the company’s commitment to transparency and regulatory compliance. The announcement provides valuable insights into Brimstone’s ownership dynamics and may influence market sentiment in the days to come. As investors digest this news, attention will likely turn to Brimstone’s future plans and the potential implications for its stakeholders.