Bytes Technology proposes to return cash to its shareholders by way of a special dividend of 7.5 pence per share, equating to £18 million.
Invicta will implement an odd-lot offer to repurchase 36,349 shares from shareholders holding less than 100 Invicta shares. A total of 1,510 shareholders qualify, comprising 40.92% of the total number of ordinary shareholders in the company. The shares will be repurchased at a 5% premium to the 30-day-VWAP of at the close of business on July 24, 2023.
As part of its capital optimisation strategy, Investec Ltd acquired on the open market a further 455,876 Investec Plc shares at an average price of 423 pence per share (LSE and BATS Europe) and 592,443 Investec Plc shares at an average price of R102.65 per share (JSE). Since October 3rd 2022, the company has purchased 43,5 million shares.
The board of SAB Zenzele Kabili have approved a special dividend of 45 cents per ordinary share from income reserves based on the dividend income received from Anheuser-Busch InBev. There are 40,550,001 ordinary shares in issue.
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:
Investec’s share repurchase programme has been renewed and commenced on May 30. The programme will end on or before September 29. This week 528,571 shares were repurchased at an average price per share of R102.13. Since November 21 2022, the company has repurchased 10,422,326 shares at a cost of R1,12 billion.
South32 this week repurchased a further 618,253 shares at an aggregate cost of A$2,41 million.
This week Glencore repurchased a further 14,880,000 shares for a total consideration of £63,82 million. The share repurchases form part of the second phase of the company’s existing buy-back programme.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 29 May to 2 June 2023, a further 2,448,880 Prosus shares were repurchased for an aggregate €155,81 million and a further 593,402 Naspers shares for a total consideration of R1,83 billion.
Five companies issued profit warnings this week: Steinhoff Investment, Castleview Property Fund, Capital Appreciation (update), Emira Property Fund and MultiChoice.
Three companies issued or withdrew a cautionary notice: Finbond, Life Healthcare and Trustco.
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