In its trading update for the year, Nampak announced a proposed capital raise of up to R2 billion during the first quarter of 2023. The group’s current debt package and the US Private Placement funding are due to mature in December and May 2023 respectively. This requires the group to refinance its debt package before the end of March 2023 if management is to put in place a simplified and more robust capital structure and so deliver on its growth strategy.
Lighthouse Properties is offering shareholders up to R50 million in new Lighthouse shares. The company will list up to 7,575,757 new shares with the purpose of providing the company with additional liquidity primarily for capital expenditure at its shopping centres.
A2X Markets is set to welcome three new listings. Woolworths will list on 2 December, Truworths International on 5 December and Hyprop Investments on 7 December 2022.
Rand Merchant Investment Holdings will officially change its name to OUTsurance Group under the new JSE code OUT from commencement of trading on Wednesday 7 December 2022.
The JSE has censured suspended Nutritional Holdings following the company’s “failure to inform the market of price-sensitive information without delay [and] failed to apply the highest standard of care in disseminating information to the market.”
As part of its capital optimisation strategy, Investec Ltd acquired on the open market a further 1,194,773 Investec Plc shares at an average price of 499 pence per share (LSE and BATS Europe) and 1,450,228 Investec Plc shares at an average price of R102.81 per share (JSE). Since October 3rd the company has purchased 9,50 million shares.
A number of companies listed on one of South Africa’s Stock Exchanges have initiated share buyback programmes and each week update shareholders. They are:
Glencore this week repurchased 13,351,854 shares for a total consideration of £72,67 million. The share repurchases form part of the second phase of the company’s existing buy-back programme which is expected to be completed by February 2023.
South32 has this week repurchased a further 1,828,308 shares at an aggregate cost of A$7,21 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period November 21 – 25, a further 3,693,220 Prosus shares were repurchased for an aggregate €213,56 million and a further 716,371 Naspers shares for a total consideration of R1,76 billion.
British American Tobacco repurchased a further 684,561 shares this week for a total of £22,88 million.
Nine companies issued profit warnings this week: Mantengu Mining, Mahube Infrastructure, Crookes Brothers, Nictus, Visual International, Sable Exploration and Mining, African Equity Empowerment Investments, Nampak and Salungano.
Four companies issued or withdrew cautionary notices. The companies were: Finbond, Acsion, Brikor and Chrometco.
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