HCI revises SACTWU transactions, sets shareholder meeting

Hosken Consolidated Investments (HCI) has published a circular detailing revised proposed transactions with the Southern African Clothing and Textile Workers' Union (SACTWU), a material shareholder. These amendments, disclosed on September 29, 2025, include Squirewood's purchase of 1.1m HCI shares from SACTWU for R144.1m, and HCI's sale of three wholly-owned subsidiaries to SACTWU for R549,724,863. Additionally, SACTWU will subscribe for Squirewood shares, acquiring 54.5% ownership for R888,755,872, with the consideration remaining as a loan.

A general meeting for shareholders is scheduled for January 29, 2026, at 10h00 in Sea Point, Cape Town, to consider and approve these proposed transactions. The circular, distributed on December 15, 2025, also outlines an option for Squirewood to purchase an additional 16,012,469 HCI shares from SACTWU at R131.00 per share, with consideration offset against the Squirewood claim.

In a separate announcement dated December 17, 2025, HCI reported that Coronation Asset Management Proprietary Limited has disposed of ordinary shares in the company, reducing its total beneficial interest to 0.23% of the ordinary shares in issue.