Capital markets bolster Murray & Roberts with R130m for business rescue efforts

“These investors are well capitalised and have expressed their appreciation of Murray & Roberts’ expertise as a provider of mining contracting services, which rivals the best in the world, and the importance of preserving this capability,” said Murray & Roberts CEO Henry Laas.

“As a 120-year-old organisation, we have played a major role in the development of infrastructure in South Africa and other parts of the world while creating value for clients, employees and society by delivering many notable projects.”

Murray & Roberts stops trading, puts SA operations on life support

Lindsey Schutters  25 Nov 2024

The Board of Murray & Roberts Limited voluntarily placed the company, which includes its trading division, OptiPower, into business rescue in November 2024, with the Group suspending trading in its Murray & Roberts shares.

Key components

The Group’s core assets by value and earnings contributions are its underground mining businesses which are not in business rescue and continue to operate and deliver on their contractual obligations.

The business rescue practitioners expect to present a business rescue plan for consideration by creditors in terms of the Companies Act before the end of March 2025.

“We are engaging all stakeholders as part of the business rescue process, and our interactions with key parties have been largely positive,” said Josh Cunliffe, partner at Metis Strategic Advisors who is one of the jointly appointed practitioners.

“We remain confident about the prospect of a successful business rescue.”