The post Interest in Cricket South Africa’s #T20 Global Destination League ownership peaks as deadline for ownership submissions draws to a close appeared first on Core Sector Communique.
]]>27 April 2017: The countdown to announce the eight owners of Cricket South Africa’s new #T20 Global Destination League has begun.
The deadline for submission of ownership bid documents is 28 April at 17:00. CSA announced its intention to host its own global T20 tournament with a worldwide tender notice in February this year, requesting Expressions of Interest from potential owners.
With phase two of the process approaching completion, potential owners have one last opportunity to submit their documents.
The tournament will include top international and local cricketers and will highlight South Africa as a world-class destination to watch cricket and at the same enjoy the tourism aspects of the country as well. In March, CSA received more than 150 Expressions of Interest (EoIs) from potential owners as part of the first phase of the process. The majority of interest came from South Africa, making up 39% of the total EoIs received, with India making up a whopping 35%. There was also significant interest shown from the UK, USA and the UAE.
“We have already seen great interest from South Africa and abroad in our franchise teams, and we anticipate some last minute submission applications from potential owners ahead of our 5pm deadline on Friday, 28 April,” says Haroon Lorgat, Cricket South Africa’s (CSA) Chief Executive.
To date CSA has signed eight marquee international players and eight marquee Protea players as part of the league. Each marquee Protea player will be allocated to a new franchise team based in the city he has either been historically associated with, or a city with which he can build a strong association.
“This is an opportunity that cannot be ignored. We are looking for prospective team owners who are passionate about cricket, as well as South Africa. They will share the same values and ideals in cricket and the country as we do,” added Lorgat.
The process to acquire one of the eight city-based teams is managed by EY. Following the submission of formal bids, CSA will evaluate the qualifying bids received and announce the successful owners in June.
The #T20 Global Destination League is set to knock cricket fans expectations out of the park with the tournament starting in early November and the final scheduled for 16 December.
ABOUT CSA
Cricket South Africa (CSA), an affiliate of the South African Sports Confederation and Olympic Committee (SASCOC) and a full member of the International Cricket Council (ICC), is the national governing body for the sport of cricket in South Africa and administers all aspects of South African cricket, men and women, both in the professional and amateur spheres.
It initially operated under the name of the United Cricket Board of South Africa (UCB) which came into being on June 29, 1991, following completion of the unity process between the South African Cricket Union (SACU) and the South African Cricket Board (SACB)
It changed its name to CSA in 2005.
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]]>The post SSAB AB (PUBL) has obtained ownership of all the shares in Rautaruukki Corporation and the shares will be delisted appeared first on Core Sector Communique.
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The arbitral tribunal appointed by the Redemption Board of the Finland Chamber of Commerce has today confirmed in an interim award that SSAB AB’s (publ) (“SSAB”) redemption right in accordance with the Finnish Companies Act over the minority shares in Rautaruukki Corporation (“Rautaruukki “) is clear, and that SSAB is entitled to obtain ownership of Rautaruukki’s minority shares by posting a security approved by the arbitral tribunal for the payment of the redemption price and the interest accruing thereon.
SSAB has today posted a security approved by the arbitral tribunal and thus obtained ownership of all the shares in Rautaruukki in accordance with Chapter 18, Section 6 of the Finnish Companies Act. After the security has been posted, the minority shareholders of Rautaruukki are entitled to receive the redemption price and the interest payable thereon. The final arbitral award, which will set out the redemption price, will be issued by the arbitral tribunal at a later stage.
Upon application by Rautaruukki, NASDAQ OMX Helsinki Ltd (the “Helsinki Stock Exchange”) has decided to delist the Rautaruukki shares from the Official List of the Helsinki Stock Exchange when the ownership of all shares in Rautaruukki has been transferred to SSAB. Trading in Rautaruukki’s shares and Rautaruukki’s listing on the Helsinki Stock Exchange will thus cease on or about 20 November 2014 in accordance with a separate release to be published by the Helsinki Stock Exchange.
SSAB’s class A and class B shares are listed on Nasdaq Stockholm and, on a secondary listing basis, on the Helsinki Stock Exchange.
SSAB is a Nordic and US-based steel company. SSAB offers value added products and services developed in close cooperation with its customers to create a stronger, lighter and more sustainable world. SSAB has employees in over 50 countries. SSAB has production facilities in Sweden, Finland and the US. SSAB is listed on the NASDAQ OMX Nordic Exchange in Stockholm and has a secondary listing on the NASDAQ OMX in Helsinki. www.ssab.com.
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