As part of its capital optimisation strategy, Investec Ltd acquired on the open market a further 1,097,217 Investec Plc shares at an average price of 435.9 pence per share (LSE and BATS Europe) and 472,489 Investec Plc shares at an average price of R103.58 per share (JSE).

Choppies Enterprises has successfully raised P300 million (R429 million) in a rights offer. Shareholders subscribed for 267,5 million shares representing 51.36% of the offer shares with the remaining shares taken up by Ivygrove [196,1m shares (37.65%)] and Export Marketing [57,2m shares (10.98%)] as partial underwriters to the offer.

Remgro has disclosed its final shareholding in Heineken Beverages and Capevin following the implementation of the Distell transaction (first announced in November 2021) and subsequent off-market transactions. Prior to the deal, Remgro held 15.5% stake in Heineken Beverages. In a series of off-market transactions this stake was increased to 18.80% – 13,218,475 shares were acquired for an aggregate R926 million. Remgro’s shareholding in Capevin comprises a 31.36% stake in Capevin ordinary shares with a voting interest of 20.13% and a 35.8% voting interest in Capevin’s B shares, translating into an aggregate voting interest in Capevin of 55.93%

PBT Group has declared a capital reduction distribution to shareholders of R0.165 per share for an aggregate R17,26 million.

Nedbank has repurchased 2,723,917 Nedbank Group shares in terms of its odd-lot offer. The repurchased shares, which represent 0.55% of the total issued ordinary share capital of company were repurchased for a total consideration of R637,58 million.

Heriot REIT through its subsidiary Heriot Properties has disposed of 1,571,645 Safari Investments RSA shares, on market, to majority shareholder Heriot Investments at a disposal price of R5.60 for an aggregate R8,8 million. In a separate on-market block trade, Heriot REIT acquired an additional 385,237 Safari shares at a purchase price per share of R5.75 for an aggregate R2,22 million.

The JSE has flagged the following companies for late submission of their Annual Financial Statements: Acsion, African Dawn Capital and Copper 360. Companies need to submit their annual reports on or before 31 July 2023, or face possible suspension.

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. Over the period 26-30 June 2023, 341,049 shares were repurchased at an average price per share of R103.22. Since November 21 ,2022, the company has repurchased 12,244,378 shares at a cost of R1,31 billion.

This week Glencore repurchased a further 11,220,000 shares for a total consideration of £51,06 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 26-30 June 2023, a further 1,961,211 Prosus shares were repurchased for an aggregate €130,4 million and a further 515,464 Naspers shares for a total consideration of R1,69 billion.

One company issued a profit warning this week: RCL Foods.

Five companies issued or withdrew a cautionary notice: Ayo Technologies, Tongaat Hulett, RMB Holdings, Conduit Capital and Attacq.

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