Ascendis Health’s private-equity backer, Coast2Coast, has sold more shares in the troubled JSE-listed healthcare company, a regulatory filing on Friday shows.Coast2Coast owned 25.5% of Ascendis in December 2018. A year before, it held 30.9% of the company.
The private equity group has been forced to offload large chunks of Ascendis shares in recent months to meet obligations to lenders, since the stock was used as collateral for loans. But Ascendis no longer needs to disclose all of those sales because the Coast2Coast representative on its board, Gary Shayne, stepped down at the end of March. Now, it only needs to tell investors when Coast2Coast’s shareholding breaches certain thresholds.
Shayne is the majority beneficial owner and CEO of Coast2Coast Capital, which founded Ascendis in 2008 and listed it on the JSE in November 2013. He had been on the Ascendis board since its founding. Ascendis’s shares were 1.8% down at R5.06 shortly after noon on Friday. About two years ago, the stock was at R26.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Private Equity’s Returns Questioned Again, This Time by BuffettPrivate equity firms, which are attracting record amounts of investor funds, have for years faced criticisms that they game their returns. Over the weekend, billionaire Warren Buffett joined the chorus.
Source: dailymaverick - 🏆 3. / 84 Read more »
Big tech’s health fixation spreads into private areasRecent years have seen problematic revelations about how personal data are being used
Source: BDliveSA - 🏆 12. / 63 Read more »
Ascendis strengthens on revitalised boardA new chairman and a fresh non-executive at Ascendis will be critical to turning around the ailing, debt-laden healthcare company
Source: BDliveSA - 🏆 12. / 63 Read more »
Backers 'failed to follow through' in abortive uprising — Venezuelan opp leaderOpposition leader Juan Guaido, recognised as interim president by more than 50 countries, said it was “obvious today, there is widespread discontent from which the armed forces aren’t immune.'
Source: mailandguardian - 🏆 2. / 92 Read more »
HEALTH-E: Should Aaron Motsoaledi stay on as health minister?Passionate and principled, the minister of health has led massive victories over HIV during the past decade. But as SA attempts to introduce complex changes to the health system, is it time for an operations person rather than a firefighter? We are more unhealthy since Hell NO!! The man has no clue what his doing. Completely out of his depth like so many in the MYANC Absolutely NO !!
Source: dailymaverick - 🏆 3. / 84 Read more »
Private property rights at stake in #Elections2019 | IOL NewsThe government's promises of returning land to black South Africans taken during apartheid are under the spotlight during Elections2019, land experts said.
Source: IOL - 🏆 46. / 51 Read more »
Buhari returns to Nigeria after private visit to LondonNigeria president Muhammadu Buhari's 10-day visit to the United Kingdom has sparked fresh debate regarding his state of health. London? The seat of colonial power Another hypocritical African tinpot dictator
Source: eNCA - 🏆 49. / 51 Read more »
Private jet crashes in Mexico, 13 feared deadAir-traffic controllers said they lost contact with the Bombardier Challenger 601 jet Sunday evening, after it abruptly lost altitude over the state of Coahuila, in northern Mexico.
Source: ewnupdates - 🏆 30. / 53 Read more »
NC health department to probe deductions from Sol Plaatje staff salariesSome Sol Plaatje municipal staff members have approached their unions claiming as much as R1,200 was deducted from their salaries on at least two occasions.
Source: ewnupdates - 🏆 30. / 53 Read more »
Elections are a health check for the ANCNationwide polls are almost certain to return the ruling ANC to power despite anger over corruption scandals, sluggish growth, and record unemployment.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Queue time: Voters talk soccer, mental health and the environmentVoters lined up behind the stand of the Astroturf hockey field at Wits Education Campus in Parktown to cast their vote on a cold election-day morning in Johannesburg, with the Sentech Tower and the SABC headquarters partly covered by gloomy skies. MamaAction_RSA will provide the meat and Whiskey...Sorted!
Source: TimesLIVE - 🏆 28. / 59 Read more »