• Labat Africa to undertake private placement of shares
  The company, which has a dual listing on the JSE and Frankfurt Stock Exchange, is to undertake a capital raise via a private placement of shares to selected European investors to secure new capital of €18 million. The placement proceeds will be used to accelerate the implementation and expansion of the Labat Healthcare projects and will also create much needed liquidity of the Labat share in the international equity markets.

• Results of Hammerson’s scrip distribution election
  Hammerson has issued a total of 194,637,920 new company shares in terms of its scrip distribution alternative. The company’s total issued share capital now consists of 4,614,095,081 ordinary shares.

• Reinet Investments repurchases shares
  As part of the repurchase programme announced on March 24, 2022, the company has repurchased a further 244,325 ordinary shares at an average price of R309.24 per share for a total consideration of R75,6 million (€4,5 million).

• South32 repurchases shares
  The company this week repurchased 1,847,463 shares valued at A$28,79 million.

• Pan African Resources repurchase shares
  The company announced the initiation of phase one of a share buyback programme to purchase up to R50 million (£2,6 million) worth of ordinary shares over one month commencing April 1, 2022. Purchases will take place on the LSE and JSE with c. R25 million purchased on each exchange. The shares bought back on the JSE will be in compliance with the MAR Buy-Back Regulation to maintain consistency between exchanges. This week the company repurchased 10,993 shares on the JSE valued at R46,720.

• Glencore repurchases shares
  The company this week repurchased 2,092,281 shares for a total consideration of £10,15 million in terms of its existing buyback programme which is expected to end in August 2022.

• British American Tobacco repurchases shares
  This week BAT repurchased 1,661,177 shares for a total of £55,41 million. The purchased shares will be held in treasury with the number of shares permitted to be repurchased set at 229,400,000.

• Fairvest to list on A2X
  The company will take a secondary listing of its A ordinary shares and B ordinary shares on A2X with effect from May 11, 2022. Fairvest will retain its primary listing on the JSE.

• This week two companies issued profit warning announcements
  The companies were: Oando plc and Altron.

• Five companies either issued, renewed or withdrew a cautionary this week
  The following companies advised shareholders: Nutritional Holdings, Onelogix, Santam, Sanlam and Mas plc.

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