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Rockwell appoints ARH as BEE partner at mine
Rockwell announced that it had reached agreement with African Renaissance Holdings Ltd. ("ARH") as its new 1 black institutional investor who will acquire a 30% equity stake in the Company’s Middle Orange operations, as its black economic empowerment ("BEE") partner as required by South African Law.
Subsequent to the announcement during early December 2013, ARH has fulfilled most of the conditions precedent and has already supported the company in relevant matters.
ARH was established early in 1994 to champion active participation and ownership by black South Africans in strategic economic sectors. Following a restructuring of its shareholder constellation, ARH currently chaired by Bobby Makwetla, will pursue its successful investment track record in both listed and unlisted entities in sectors including telecommunications, mining, diamonds and related services.
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