South Africa's top spas: The 2025 Les Nouvelles Esthetiques Spa Awards winners announced
Image: Pexels
The Les Nouvelles Esthetiques Spa Awards 2025, hosted recently in Cape Town, brought together the best of South Africa's spa and wellness industry for an evening of recognition and celebration, acknowledging standout spas that are redefining luxury, wellness, and holistic healing in South Africa and beyond.
These prestigious awards spotlight innovation, professionalism, and excellence across the spa landscape.
This year's awards featured seven diverse categories The 2025 Awards featured seven categories:
Day Spas, Hotel Spas, Boutique Hotel Spas, Safari Spas, Unique Spa Concepts, Aesthetic/Medi Spas and Wellness Retreats.
Below are the winners and finalists across each category.
Hotel Spa Category
Winner: The Spa at Fancourt
Located in George in the Garden Route, Guests can enjoy a curated menu of treatments, from therapeutic massages to advanced facials using leading international skincare brands.
Finalists:
Fairmont Spa at Cape Grace Hotel
Newly launched within the iconic Cape Grace Hotel, the Fairmont Spa introduces a modern wellness experience in the heart of Cape Town's V&A Waterfront. The spa features state-of-the-art facilities, including a dedicated halotherapy salt room—a first for the property.
Erinvale Estate Hotel & Spa
The newly reimagined Erinvale Estate Hotel & Spa blends contemporary luxury with Japonica-inspired design.
Signature treatments and bespoke rituals draw on Eastern healing philosophies.The spa features private treatment rooms, a relaxation garden, and a thermal suite
Equilibrium Boutique Wellness Spa at Fairview Hotel
Set within the lush subtropical gardens of the Fairview Hotel in Tzaneen, Equilibrium Boutique Wellness Spa offers a tranquil, nature-inspired escape focused on balance and holistic healing.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Next
Stay
Close ✕
Ad Loading
Day Spa Category
Winner: Aronia Day Spa
In Houghton, Aronia Day Spa is a boutique wellness destination offering an escape in the heart of Johannesburg. The spa is set within a tranquil, landscaped estate and features nine treatment rooms, a Rasul chamber, hydrotherapy bath, floatation therapy and outdoor relaxation gardens.
Finalists:
Spa de la Veille
Located in Centurion, Pretoria, Spa de la Veille blends French elegance with holistic wellness. This luxurious day spa features seven private treatment rooms, two double suites, a manicure and pedicure lounge, relaxation area, and a heated Roman bath, Finnish sauna and a Himalayan Salt Room.
Rifumo Boutique Spa
Located in the heart of Mbombela, Rifumo Boutique Spa offers a serene retreat of luxury and relaxation. This boutique spa provides personalized care and indulgent treatments in an elegant setting.
Thai Sabai Day Spa
In the suburbs of Somerset West, Thai Sabai Day Spa brings the ancient healing traditions of Thailand to Cape Town's Helderberg region. Guests are welcomed into a serene, Thai-inspired space where skilled therapists deliver personalised massages, body scrubs, and beauty rituals.
Boutique Hotel Spa Category
Winner: Fairlawns Boutique Hotel & Spa
In the heart of Johannesburg, Fairlawns Boutique Hotel & Spa is a Balinese-inspired spa set amidst lush, tropical gardens, with private treatment salas, a heated vitality pool, and calming outdoor spaces.
Finalists:
Steenberg Boutique Hotel & Spa
Tucked among the historic vineyards of Constantia, the newly renovated Steenberg Boutique Hotel & Spa offers a refined blend of heritage and innovation. The spa features elegant treatment rooms, holistic therapies, and locally inspired rituals designed for deep relaxation.
With a focus on personalised service, continuous innovation, and sensory indulgence, Steenberg delivers a boutique wellness experience that reflects the luxury and culinary excellence of one of Cape Town's most iconic wine estates.
The Featherhill Boutique Hotel & Spa
Located in Potchefstroom, South Africa, the hotel and spa offers a tranquil escape out of the city with luxurious amenities. The renowned Vista's Restaurant, a hidden gem, boasts breathtaking hilltop views of Potchefstroom.
Palm House Boutique Hotel & Spa
Set in Wynberg, the 1920s mansion offers stunning views of Table Mountain and opulent luxury amid lush gardens.
Safari Spa Category
Winner: Fijnebos Spa – Botlierskop Game Reserve & Villas
Nestled between the Outeniqua Mountains and the Indian Ocean, Fijnebos Spa is part of the exclusive Botlierskop Private Game Reserve, renowned for its rich wildlife and stunning landscapes. The spa offers superior hydrotherapy facilities, including indoor and outdoor pools, alongside African-inspired treatments in tranquil indoor rooms and open-air salas.
Finalists:
Amani Spa & Wellness – Radisson Safari Hotel, Hoedspruit
Set in Hoedspruit's scenic Lowveld, the newly opened Amani Spa & Wellness at the Radisson Safari Hotel offers a modern wellness retreat within a luxury safari lodge. The spa features serene treatment rooms, a steam room, sauna, hydrotherapy pool, outdoor swimming pools, and dedicated yoga decks overlooking the bush.
Dee's African Spa at Kruger Gate Hotel
Dee's African Spa is located at Kruger Gate Hotel which is on the banks of the Sabie River just 500 meters away from the gate of the world-renowned Kruger National Park.
Services include facials, massage, body therapies and signature treatments that are inspired by the Tsonga/Shangaan traditions.
Lion Sands - Narina Lodge
Lion Sands Narina Lodge, nestled within the renowned Lion Sands Game Reserves along the Sabie River, offers an exclusive retreat deeply connected to nature. The newly introduced spa features sleek Scandinavian design, blending minimalist elegance with natural elements to create a calming sanctuary.
Unique Spa Concept Category
Winner: The Spa at The Twelve Apostles Hotel
Perched between the Twelve Apostles mountain range and the Atlantic Ocean, The Twelve Apostles spa is within a natural cave, discovered during construction. The hidden retreat features serene hydrotherapy areas painted in soft, light hues to enhance the sense of calm. A highlight of the experience is crossing the glass bridge, suspended over a rock chamber.
Finalists:
Gold Spa by Healing Earth – The Cocoon Collection, Zanzibar
Gold Spa by Healing Earth is a serene retreat inspired by Islamic architecture, with open spaces, tranquil courtyards, and elegant arches. Surrounded by palm-lined pools, soft sandy beaches, and shaded umbrellas, the setting invites total relaxation.
Verde Vita Spa – Hotel Verde Cape Town Airport
Located just 400 meters from Cape Town International Airport, Hotel Verde is Africa's greenest hotel, renowned for its carbon-neutral operations and multiple sustainability awards.
The Verde Vita Spa & Wellness Centre has evolved from a simple relaxation space into a cutting-edge facility designed with eco-conscious principles. Guests enjoy a sustainable wellness experience in a modern, green setting that aligns with Hotel Verde's eco-friendly vision.
Yadah Castle – Hammam Turkish Spa & Bath & À La Turka Restaurant
At Yadah Castle, the Hammam Turkish Spa & Bath offers an immersive wellness journey with traditional steam baths, Persian carpets, flickering candles, and plush cushions that create a soothing, sensory escape.
The spa's authentic décor and artworks, imported from Turkey by owners Vanessa and Gokhan Hacisuleyman, add to the exotic ambiance. Just steps away, the adjoining À La Turka Restaurant complements the experience with rich, authentic Turkish cuisine. Together, they provide a harmonious blend of luxurious relaxation and vibrant dining, transporting guests to the heart of Turkish culture and hospitality.
Glasshouse Rejuvenation
Located in Cape Town's sleek Silo District, Glasshouse Rejuvenation is a cutting-edge grooming and wellness destination designed with the modern man in mind. The space features clean architectural lines, industrial finishes, and a calm, masculine atmosphere. Specialising in advanced skincare, tailored grooming, and therapeutic treatments,.
Aesthetic Institute Category
Winner: Terre Paisible Medical Rejuvenation & Spa
Set amidst the serene beauty of Franschhoek, Terre Paisible is a haven of luxurious rejuvenation where advanced medical aesthetics meet elegant contemporary design. Private suite boasts separate entrances, ensuring utmost privacy and exclusivity. The bespoke, medically guided treatments are expertly tailored to enhance visors natural radiance within a setting of understated luxury.
Finalists:
SCINMed – Wembley Square
SCINMed at Wembley Square, Cape Town is a leader in preventative medicine and longevity, offering cutting-edge aesthetic and wellness treatments in a luxurious, clinical environment. Under the guidance of Dr. Kamlen Pillay, and in collaboration with InUWell (Institute of Universal Wellcare) SCINMed provides personalised health optimisation strategies rooted in the latest longevity science.
With a focus on early intervention, cellular health, and graceful ageing, treatments are tailored for lasting, natural results.
Revive Skin and Body Clinic
Located in Waterfall, Johannesburg, Revive Skin and Body Clinic is a dynamic wellness destination dedicated to holistic skincare and rejuvenation. The clinic offers advanced, results-driven treatments tailored to individual needs.
Professional Skin Care Lab
Situated in Parktown North, Johannesburg, Professional Skin Care Lab is a leading aesthetic clinic known for its expert, results-oriented approach to skin health.The clinic blends clinical expertise with personalised care to treat a range of skin concerns—from acne and pigmentation to ageing and sensitivity.
Wellness Retreats
Winner: Maua Wellness by Healing Earth at Zuri Zanzibar
Tucked away in the tropical serenity of Zuri Zanzibar, Maua Wellness by Healing Earth offers a transformative retreat where barefoot luxury meets holistic healing. Surrounded by vibrant spice gardens and majestic baobab trees, guests are immersed in nature through open-air treatment gazebos, a stunning ocean-view yoga pavilion, an outdoor gym, and tranquil wellness spaces..
Finalists:
Santé Wellness Retreat & Spa
Situated in a tranquil valley framed by the majestic Drakenstein mountains, Santé Wellness Retreat & Spa embodies serene elegance and refined hospitality. The retreat features exquisite villa and suite accommodations, complemented by a world-class day spa offering extensive hydrotherapy, indoor heated pool and jacuzzi, outdoor pool, fitness centre with yoga and Pilates studios and sauna.
Santé's pioneering Bio-Energy Centre employs over 30 advanced technologies in its Health Optimizing program, providing comprehensive health assessments and bespoke treatments.
The Fernery Lodge and Spa
In the heart of Tsitsikamma Forest, Eastern Cape, The Fernery Lodge and Spa offers breathtaking sea views and the soothing sound of nearby waterfalls. This luxurious retreat invites guests to indulge in natural forest bathing, surrounded by ancient trees and lush greenery, creating a peaceful sanctuary.
Isiphiwo Spa
Located north of Pretoria, Isiphiwo Spa is an exclusive wellness retreat offering private, tranquil spaces surrounded by lush gardens. Guests enjoy bespoke treatments in intimate settings designed to restore balance and wellbeing.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mail & Guardian
5 days ago
- Mail & Guardian
Trump's tariffs are illegal under international trade law
US President Donald Trump. Photo: Supplied The Trump administration's trade tariffs are illegal and fall outside the legal framework of international trade law. South Africa should call out the US government for violating basic principles of international law South Africa is subject to a 30% US tariff rate, announced during the so-called liberation day tariffs declaration on 2 April, and will take effect from 1 August. The South African economy is likely to be significantly affected by these tariffs, particularly the agricultural sector and vehicle industries. The specific regions that will be affected are the Eastern Cape vehicle corridor and citrus fruit small towns in the Western cape. The tariffs are eroding the rule-based international trade order by unilaterally imposing tariffs to balance American trade deficit with its trading partners. The United States, being one of the chief architects of the international trade system is now questioning the benefits of the rule based global trade order. The first assault of the global trade order was in 2017, when the US, under Trump, started blocking all new appointments to the World Trade Organisation (WTO) appellate body as the terms of its Judges were expiring. Trump started his trade war with China in early 2018, when he started setting tariffs and other trade barriers against China. Breach of the WTO rules Trade within the auspices of the WTO is rules-based and has been a source of international economic stability and success in many of the world's economies. Established through the General Agreement on Tariffs and Trade (GATT) of 1948 and subsequently the WTO in 1994, the rules-based international trade law has been founded on what is known as diffuse reciprocity. Diffuse reciprocity essentially negates formal numerical equality in tariffs within the context of the global trade system. This is because reciprocal tariffs are a fundamental rejection of the WTO rules. Throughout the years, the international trade system has been based on the principle of non-discrimination amongst the member countries of the WTO. Non-discrimination principle promotes universal equal treatment between the WTO member countries. This trade without discrimination is known as the Most Favoured Nation (MFN) Treatment. The MFN is the first article of the GATT agreement, which regulates trade in goods. It requires a nation providing a trade concession to one trading partner to extend the same treatment to all. Therefore, countries cannot discriminate between their trading partners. For example, if country A offers a lower custom duty rate to country B, it has to extend the same treatment to others. Similarly, if a country imposes additional restrictions on the WTO member nation, it must do the same to all the other trading partners. A Generalised System of Preferences (GSP), Free Trade Agreements and Customs Union are some carve outs and exceptions to the MFN principle. For instance, the African Growth and Opportunity Act (Agoa) is an exception to the MFN rule under the WTO legal Framework. But it should be noted that although South Africa's membership in Agoa gives preferential access to the US market, economists have said that only 20% of our exports constitute the Agoa export. Therefore, most of the country's exports are not under the Agoa preferential access. Beginning on 1 August 2025, the US will continue to violate Article I of the GATT by unilaterally imposing 30% reciprocal tariffs on the South African government. For example, while the Indian exporters will now face 20% US tariffs, South Africa's exporters will face 30% tariffs on the same products. The US is also in breach of its commitment under Article II of the WTO's GATT agreement, which deals primarily with the schedule of concessions. This provision details the tariffs commitments the WTO member states have made to other countries. It mandates the WTO member countries to provide treatment not less favourable than the one provided under its schedule of concessions, including adhering to bound tariffs that a country has committed itself to. By unilaterally imposing reciprocal tariffs that are not agreed to by other member states of the WTO, the US violates its legal commitment that it has made under Article II of the WTO's GATT agreement. While the US is permitted under Article XX VIII of the GATT to unilaterally modify its tariff commitment under international trade law, this approach requires a negotiated compensation with the affected member states. The Trump administration has not adopted this approach. Furthermore, the reciprocal actions also undermine the WTO law principle of special and differential treatment accorded to least developed and developing countries, to which South Africa is one of them. The rationale behind the special and differential treatment principle is to allow least developed countries and developing countries to provide less than full reciprocity in their tariff obligations to developed countries. Criticism of the US reciprocal tariffs Many countries have criticised the US reciprocal tariffs for violating basic principles of international trade. China has openly criticised the US government saying that the US move disregards the balance of interest reached in multilateral trade negotiations over the years and the fact that it has long benefited greatly from international trade. China has instituted a WTO case against the US for breaching of its WTO obligations. The second critic of Trump is the Singaporean government. The country's prime minister recently remarked that the US appears to be withdrawing from the global leadership to a less predictable international trade system and the messier world. He said the era of rule- based globalisation and free trade is over. He has labelled the US new tariff regime as a repudiation of the MFN principle. Likewise, the Canadian government has challenged the legality of the US tariffs. It has retaliated to the US tariffs by imposing 25% tariffs on $30 billion of US imports and has plans to expand to $155 billion after consultation. In addition to this, Canada has filed a legal claim against the US by requesting WTO dispute consultations with the US concerning the imposition by the US of import duties on certain steel and aluminium products from Canada. The initiation of this dispute has been circulated to all the WTO member countries. The actions by these countries are justified. The US government should be held accountable for its erosion of international trade rules. The South African government has not condemned the Trump administration for its violation of international law; it has instead insisted on one-sided attempts to negotiate trade deals with the US government. South Africa's position therefore does not explicitly express its discontent with the US illegal tariffs, but it is hoping that its negotiation will yield some trade deals with the US. One wonders if the results of that trade deal itself will be compliant with the WTO trade rules, but this will be seen once the US tariffs decision on South Africa has taken effect. The South African strategy On 7 July, the South African president issued a statement attempting to push back on Trump's imposition of 30% tariffs, saying that they are an inaccurate view of US-South Africa's trade relations. He has argued that these tariffs are not an accurate representation of available trade data. But this is not enough. South Africa appears to be hesitant to publicly call out the illegal tariffs of the US government, possibly because such public condemnation of Trump tariffs would not be in the interests of South Africa. According to the joint statement by the ministers of international relations and trade, industry and competition, South Africa is seeking to secure favourable quota agreements and additional exemptions by ensuring that its industries still maintain access to the US market including sectoral cooperation. The joint statement has reiterated that the country is committed to the mutual beneficial trade relationship between the US and South Africa. Instead of calling the tariffs illegal and against international trade law, the joint statement expresses concerns over shared prosperity between the two nations and it acknowledges these tariffs as constituting barriers to trade. Other countries have continued to negotiate with the US government on this tariff issue while taking it to the WTO dispute settlement system. If South Africa were to take a similar approach, it would continue to negotiate with the US government while reminding it of its commitment to the global trade rules. Perhaps the South African government might argue that this will not yield any results, given that the WTO settlement body is dysfunctional. The other impediment is that the appellate body of the WTO is not currently functional, because the US has blocked the appointment and reappointment of its judges. But China and Canada have continued to file legal claims against the US government. They understand the use of the global trade rules to enforce their claims against the violator of the trade system. As it did with the International Court of Justice case against Israel, history should remember South Africa as a country that fought for the stability of the multilateral trade system, a fair system of international trade and revitalisation of the WTO dispute settlement system. Mmiselo Freedom Qumba is a lecturer at the University of Pretoria and an admitted attorney of the High Court of South Africa.
The Herald
7 days ago
- The Herald
Nelson Mandela Bay to receive R100m in grant funding after plea to minister
Nelson Mandela Bay is set to receive more than R100m for its delayed informal settlement upgrading grant funds after deputy mayor Gary van Niekerk's urgent plea to human settlements minister Thembi Simelane last week. Van Niekerk wrote to Simelane, urging her to approve business plans for two grants so they could be paid into the city's bank accounts. The metro was expecting a R139.4m tranche for the Urban Settlements Development Grant (USDG) and a R104.8m tranche for the informal settlement upgrading grant. The money was meant to be paid on July 22 and 24, respectively. In response, Simelane said the 2025/2026 ISUPG business plan had been approved with requirements under the Division of Revenue Act. However, the July 30 correspondence made no mention of the USDG funds. 'Noncompliance with the provisions may result in the withholding, reallocation or reprioritisation of funds as prescribed under the Division of Revenue Act.,' she said in her letter. 'The department will undertake quarterly engagements with the city to ensure plans are implemented accordingly and prepare for the 2026/2027 business plans due in August 2025. 'The city must ensure adherence to the prescripts of the Division of Revenue Act applicable for the 2025/2026 financial year, programmes in the Human Settlement Code, 2009 and no expenditures must be incurred outside the policy, regulations and framework that govern human settlements planning and development.' Some of the projects affected by the delay include the installation of toilets in Motherwell, the construction of roads in Bethelsdorp extensions 32, 34 and 36, as well as relocation plans for residents in KwaNobuhle and McCarthy in Kariega. For the 2025/2026 financial year, the metro is expecting a total of R663.8m from the USDG and R377.8m from the ISUPG. According to the minister's report, the metro's business plan for the USDG funds must align with the approved 2025/2026 Division of Revenue Act allocation of R663.8m. However, Simelane wrote that the metro submitted a procurement plan with a budget of R557.7m, which she said was not aligned to the Division of Revenue Act allocation. The outer-year allocations of R694.1m for 2026/2027 and R725.5m for 2027/2028 are also consistent with the MTEF projections. 'The metro has planned to deliver 1,200 serviced sites in the 2025/2026 financial year,' the report read. 'Catalytic projects [include] Jachtvlakte, with a budget of R574.6m, and KwaNobuhle, with R50m allocated, [which] are key catalytic projects supporting bulk infrastructure development in the business plan.' Van Niekerk, in his capacity as acting mayor, said on Monday he did not expect such a speedy reply. ' I'm ecstatic because we'll be able to start sooner with the projects. 'We know these are conditional grants and we won't spend outside the scope set out by the minister. I'm excited to get things done,' he said. Asked why the letter did not mention the USDG, Van Niekerk said the city would contact Simelane and the National Treasury soon. ' We're confident the letter relates to both grants. 'This is good news overall and makes one believe in the system again,' he said. The Herald
IOL News
04-08-2025
- IOL News
Prime Kapital launches voluntary offer for MAS shares amid shareholder unrest
MAS owned Moldova Mall in Romania underwent a redevelopment and reopened in April 2025. MAS' shareholder PKI Investment has made an offer to acquire at least 10% of the shares in MAS it does not already own. Image: Supplied Ongoing shareholder troubles at JSE-listed Eastern and Central Europe property group MAS continued on Monday after its major shareholder, Prime Kapital Investments (PKI), launched a voluntary offer to acquire MAS shares not already held by it. The offer comes barely a month after MAS shareholders overturned resolutions by PKI at an extraordinary shareholder meeting regarding the sell-off of MAS's assets and the payment of a special dividend with the proceeds. Just a week ago, a previous bidder for MAS, South African REIT Hyprop, withdrew its offer because MAS and PKI, as the main shareholder, refused to provide documents about a development joint venture (DJV) between PKI and MAS. PKI stated on Monday that their current offer is not contingent on PKI gaining control of MAS. The only condition is that at least 10% of MAS shareholders accept the cash offer of €1.40 per share or R29.22 per share, allowing PKI to secure a more meaningful strategic stake in MAS. MAS's share price traded 2.68% higher at R23.46 on the JSE on Monday afternoon. PKI's directors said their offer would enable PKI to unlock value for MAS shareholders and better position them to safeguard their interests against 'opportunistic takeover bids that undervalue MAS's intrinsic value.' Johan Holtzhausen, chairman of PSG Capital, Prime Kapital's lead adviser, said: 'PK partners have a large portion of their wealth invested in PKI and MAS. By increasing their stake, they'll be better strategically positioned to protect shareholders against opportunistic bidders and to maximise value for all shareholders.' Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ 'Shareholders have real flexibility—they can get cash for their shares at a significant premium to the current share price, choose preference shares, if able to hold them, that offer potential upside with an attractive floor, or simply hold on and remain MAS shareholders,' said Holtzhausen. MAS shareholders would have until midday on August 14 to make a decision on the PKI offer. Prime Kapital CEO Martin Slabbert said they were 'pleased to be able to finalise our offer now that we've secured €230 million in funding. This puts us in a strong position to provide shareholders with an attractive cash price and high cash cover.' The offer comprises a cash consideration of €1.40 (R29.22) per MAS share, representing a 28% premium to the current share price, a 37% premium to the 60-day average price, and a 50% premium to the May 15 share price, which was the day before the release of the original bid announcement. PKI directors stated that there would be up to €110m (R2.3 billion) available for cash settlements, and should cash acceptances exceed this amount, they would be scaled back on an equitable basis; however, PKI retains the right to increase the cash cap. MAS shareholders could also opt for 5-year preference shares in MAS, although PKI intends to redeem these within 18 months of issue, or shareholders could choose any ratio of cash and preference shares, PKI said in a statement. MAS shareholders could also opt to remain shareholders, and PKI stated that it did not intend to delist MAS. 'PKI has been engaging with shareholders of MAS to seek alignment on the future board composition and strategic direction. This includes the potential for the DJV to declare a special dividend of up to €120m to its shareholders, positioning MAS to resume dividend distributions as early as September 2025,' Slabbert said. PKI also undertook, as part of its offer, to support the appointment of 'genuinely independent' non-executive directors to the MAS board. Nine South African institutional minority shareholders in MAS recently questioned the standards of governance of the board. PKI stated it would prioritise the distribution of available profits by the DJV ahead of new investments and follow MAS's interpretation of the DJV distributions. PKI also said it would refrain from acquiring additional MAS shares in the market if, following the voluntary offer, it and its affiliates held more than 50% of MAS's shares. These commitments were intended to 'assure MAS shareholders that PKI is aligned with them in wanting to protect and unlock value for all MAS shareholders, they said. BUSINESS REPORT
