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History

October 2012

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Richard Bruyns becomes a Non-Executive Director to the Board of Conduit Capital.

 

July 2012

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Robert L Shaw becomes a Director to the Board of Conduit Capital.

 

March 2012

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Stan Shane resigned as an Non-Executive Director to the Board of Conduit Capital.

 

March 2011

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As a result of his emigration, Larry Prosser resigned as an Executive Director to the Board of Conduit Capital.

 

November 2010

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Conduit Capital acquires 26% of Amalgamated Electronic Corporation Ltd ("Amecor").

 

September 2010

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Stanley Shane becomes a Non-Executive Director to the Board of Conduit Capital.

 

March 2010

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Larry Prosser is appointed as an Executive Director to the Board of Conduit Capital.

 

September 2009

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Gavin Toet is appointed as an Executive Director to the Board of Conduit Capital.

 

September 2008

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While the prospects of Gateway remain positive, Gateway's business had been impacted by the high interest rate environment, which dictated that in order for it to develop and expand its business it needed to pursue an aggressive growth strategy.

Although consistent with the industry in which Gateway operates, this direction could not be aligned with Conduit Capital’s more conservative risk strategy. Under those circumstances and following discussions with management, it was deemed appropriate for Conduit Capital to exit its stakes.

 

May 2007

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Conduit announces the acquisition of 50.05% of Gateway Capital Ltd (“Gateway”) effective 1 March 2007.

 

May 2007

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Conduit publishes the first set of financial results that includes 4.5 months of earnings from CRIH. Simultaneously, Conduit announces the acquisition of the remaining shares in CRIH with effect from 28 February 2007.

 

November 2006

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Conduit changes its year-end from 28 February to 31 August of each year in order to bring it in line with CRIH’s year-end.

 

October 2006

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Conduit obtains Financial Services Board approval for implementation of the CICL transaction and acquires a 75.5% stake in CRIH. Payment for the transaction takes the form of cash, redeemable preference shares in a subsidiary of Conduit, as well as ordinary shares in Conduit.

 

June 2006 - October 2006

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Conduit raises R65 million by issuing 65 million ordinary shares at 100c per share. The proceeds from the share placement are earmarked to partly fund the CICL acquisition and for working capital requirements.

 

March 2006

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Conduit announces the conclusion of a number of agreements to acquire control of CICL Investment Holdings (Pty) Ltd renamed Conduit Risk & Insurance Holdings (Pty) Ltd (“CRIH”), the holding company of a diversified insurance and risk services group (“the CICL acquisition”). The CICL acquisition is subject to approval by shareholders, the Competition Commission and the FSB.

 

January 2006

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Conduit acquires 40% of the ordinary share capital in Anthony Richards & Associates (Pty) Ltd (“ARA”), a call centre and credit recovery business. In addition, Conduit obtains an option to acquire a further 10% in ARA, subject to the fulfilment of certain conditions.

 

November 2005

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A general meeting of shareholders approves the First Acquisition, as well as IMR’s name change to Conduit Capital Ltd.

 

September 2005

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IMR t/a Conduit Capital announces that it had raised R5 500 000 by way of a general issue of shares for cash at 50 cents per share.

 
May 2005
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Druian is appointed as the company’s new CEO. Other new Board appointments include Reggie Berkowitz (Chairman), Diamond and Megan Kruger. Scott Campbell, Lourens Louw and Stanley Shane (“Shane”) remain on the Board.

 

May 2005

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IMR announces:

  • The change of its name to Conduit Capital Limited.

  • The acquisition, in line with its new strategy and to ensure a commonality of interests, of a number of Diamond’s and Druian’s early stage investments and investment opportunities (“the First Acquisition”).

  • That Diamond and Druian had been appointed as Executive Directors of Conduit Capital and had concluded a voting pool agreement with Shane (an existing shareholder and Executive Director).
 

February 2005

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Jason Druian (“Druian”) and Paul Diamond (“Diamond”) acquire a significant shareholding in what was then IMR Investments Ltd (“IMR”).




“History is a guide to navigation in perilous times. History is who we are and why we are the way we are.”
David C. McCullough