Media Releases

Aveng announced today that it has launched an offering of ZAR1 billion (equivalent to approximately US$165 million)

Aveng announced today that it has launched an offering of ZAR1 billion (equivalent to approximately US$165 million) of guaranteed convertible Bonds due 2012

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR TO US, CANADIAN, AUSTRALIAN OR JAPANESE PERSONS

Aveng Limited
Incorporated in the Republic of South Africa
(Registration number 1944/018119/06)
Share Code: AEG ISIN: ZAE000018081…

Aveng Grinaker-LTA Civil Engineering completes Shondoni Mine contract

Aveng Grinaker-LTA’s Civil Engineering business unit, as the main contractor in a 50/50 joint venture with Aveng Grinaker-LTA Building, has completed the R533 million Shondoni mine surface infrastructure and building project for its client, Sasol Mining, who took occupation of the mine site in June 2016.

Liam Pieterse, Project Manager for Aveng Grinaker-LTA Civil Engineering, said: “The team was able to meet the stringent Project requirements and we received positive feedback from the…

Aveng turnaround starting to show results

AVENG FULL YEAR RESULTS FOR THE YEAR ENDED 30 JUNE 2016
AVENG TURNAROUND STARTING TO SHOW RESULTS

SALIENT FEATURES

• Strong improvement in safety performance
• Revenue declined by 23% to R33,8 billion (2015: R43,9 billion)
• Net operating earnings improved to a profit of R146 million (2015: loss of R288 million) with an improved gross margin
• Overheads reset for lower activity levels
• Headline loss per share improved by 48% to a loss of 75 cents…