Umongo definition

Umongo means Umongo Petroleum Proprietary Limited.
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Examples of Umongo in a sentence

  • Omnia shareholders are advised that the Company, through its subsidiary, Omnia Group Proprietary Limited, has entered into a sale of shares agreement (“Agreement”) with Lubricant Additives Solutions and Technology (Mauritius) (“Lubricant Additives”) and Autumn Storm Investments 294 Proprietary Limited (“Autumn Storm”), for 90% of the ordinary shares of Umongo Petroleum Proprietary Limited (“Umongo”) for a maximum aggregate acquisition consideration of ZAR780 million (the “Transaction”).

  • The operational similarities between Umongo and Protea Chemicals present potentially attractive and synergistic opportunities to service customers in South Africa and across the African continent, leveraging the combined presence in complementary operating regions and providing opportunities for expansion into unpenetrated frontier regions.

  • Other key members of the Umongo management team will remain with the business.

  • In terms of the Agreement, Omnia, through its subsidiary Omnia Group Proprietary Limited, will acquire 90% of the ordinary shares of Umongo for a maximum acquisition consideration of ZAR780 million on a debt free, cash free basis.

  • As at 28 February 2017, Umongo had gross total assets of ZAR547 million and equity and reserves of ZAR432 million.

  • Umongo is based in Umhlanga Ridge, Kwa-Zulu Natal and currently employs 28 people.

  • Umongo is a leading distributor of additives, base oils and other related petroleum, oil and lubricant products (“Product Range”) in South Africa and sub-Saharan Africa.

  • Following the implementation of the Transaction, Umongo will become a subsidiary of Omnia and report under the Chemicals division in the consolidated results.

  • In addition, Umongo offers a full range of technical support to customers that use the Product Range.

  • Umongo operates a fully outsourced supply chain and logistics business model, using accredited storage facilities, transporters and other related service providers to import, store, process and deliver raw materials and finished products to customers.

Related to Umongo

  • NGO means non-governmental organization;

  • Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;

  • South Caucasus/Central and South Asian (SC/CASA) state means Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkmenistan, or Uzbekistan.

  • LHSIA means the Local Health System Integration Act, 2006, and the regulations made under it, as it and they may be amended from time to time;

  • Tabarru ” means donation for the purpose of solidarity and cooperation among the Takaful Participants and to be used to help all Takaful Participants in times of misfortune. In the context of the Company, Tabarru’ will be allocated into the Participants’ Risk Fund.