In the media

AfroCentric under cautionary

10 June 2014

Market speculation is that this may relate to a further investment in subsidiary Medscheme.

JSE-listed investment holding company AfroCentric Investment Corporation announced today via the Stock Exchange News Service (Sens) that the company has entered into negotiations that may impact the share price.

Market speculation is that this may relate to a further investment in subsidiary Medscheme as the company recently saw Kevin Aron appointed as chief executive officer (CEO) of the group, having been promoted from Managing Director.

The company trades on a price to earnings multiple of just under 8 times historical earnings and offers shareholders a dividend yield of around 3.6%.

The share price rose 23c (5.5%) today to R4.38 per share.

This puts it in the middle of its 52-week trading range with the share having traded as long as R3.60 and as high as R4.90 in the last year.

Source: Business Day