EOH share price doubled in value since Friday, its fastest rise ever

Shares in EOH Holdings on Tuesday sustained a strong rally that started on Friday after its CEO, Stephen Van Coller, convinced the market of its turnaround plans.

At one stage on Friday EOH shares were trading at R9 but by 4:25pm on Tuesday they were going for R19.50, the fastest rise in its share price ever.

Its share price was up 14% on Monday.

EOH reported a loss of R3.3 billion for the half-year to 31 January 2019.

The company hopes to raise R1 billion in the next three months to a year by selling non-core assets.

It wants the restructuring to boost earnings before interest, tax, depreciation and amortisation to R600-million (from R387 million) within a year-and-a-half.

Van Coller promised to fight corruption and weed out rogue employees after Microsoft cancelled contracts it had with EOH over alleged wrongdoing.

The Money Show’s Bruce Whitfield interviewed Van Coller.

Listen to the interview in the audio below (and scroll down for quotes from it).

…We’re focussing on where we can make a large difference…

Stephen van Coller, CEO – EOH Holdings

We’ve got now a balance sheet fit for purpose and a strategy that the board approved…

Stephen van Coller, CEO – EOH Holdings

We should be done by the 31st of July…

Stephen van Coller, CEO – EOH Holdings

Separate the value pools out, show that to the market… give them a glimpse… if the share price goes up, at least the market likes the story…

Stephen van Coller, CEO – EOH Holdings

We’ll be publishing a report [on alleged corruption at EOH]…

Stephen van Coller, CEO – EOH Holdings

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : EOH share price doubled in value since Friday, its fastest rise ever


Recommended

by NEWSROOM AI
Read More
Tourism Grading Council of South Africa defends its grading system

Tourism Grading Council of South Africa defends its grading system

Bruce Whitfield interviews Darryl Erasmus, Chief Quality Assurance Officer at the Tourism Grading Council of South Africa.

You’re almost certainly – no matter what you believe - crap at investing

You’re almost certainly – no matter what you believe - crap at investing

Data shows that almost everyone sucks at investing, says Warren Ingram. Here's how to avoid shooting yourself in the foot.

Meet Stephen van Coller, the under fire CEO of embattled EOH

Meet Stephen van Coller, the under fire CEO of embattled EOH

The Money Show’s Bruce Whitfield interviews Van Coller for his weekly “ShapeShifter” feature.

Is EOH corrupt? Is that why Microsoft ran for the hills? Its CEO explains…

Is EOH corrupt? Is that why Microsoft ran for the hills? Its CEO explains…

The Money Show’s Bruce Whitfield interviews Stephen van Coller, CEO at EOH Holdings.

EOH shares down 34% after Microsoft cancels partnership without giving a reason

EOH shares down 34% after Microsoft cancels partnership without giving a reason

The Money Show’s Bruce Whitfield interviews Duncan McLeod, Founder and Editor at Techcentral.

EOH to use R1bn from stake sale to black investors for acquisitions and debt

EOH to use R1bn from stake sale to black investors for acquisitions and debt

Ray White (in for Bruce Whitfield on The Money Show) interviews EOH Holdings CEO, Stephen Van Coller.

Popular articles
How long to keep tax records available for inspection in South Africa

How long to keep tax records available for inspection in South Africa

Should you keep them "forever"? Tax expert Chris Sloane on the requirement to keep tax records available for inspection by Sars.

Capetonians: Here's your chance to sort out your traffic fines in one fell swoop

Capetonians: Here's your chance to sort out your traffic fines in one fell swoop

Mayco member for corporate services Sharon Cottle explains the Traffic Fines Roadshow at the Cape Town Civic Centre this week.

Paramedics fear for their lives as attacks on EMS crews continue

Paramedics fear for their lives as attacks on EMS crews continue

An ambulance crew was held at gunpoint, assaulted and robbed of their belongings while on a call out in Khayelitsha.

DStv subscription price hikes for 2019

DStv subscription price hikes for 2019

MultiChoice will increase the prices of certain DStv packages from 1 April.