The total number of shares held by odd-lot holders in City Lodge Hotels is 336,044, representing just 0.06% of the total issued shares in the company. As a result, the company has proposed an odd-lot offer to the 20,947 shareholders holding these shares at a 5% premium to the 30-day volume weighted average price of a share as at the close of business on Monday 4 December 2023. The repurchase will be funded from City Lodge’s existing cash resources.
Liberty Two Degrees (L2D) has declared a Clean-Out distribution from income of 8.42 cents per L2D share. The company has 908,443,334 shares in issue, inclusive of 42,791,106 treasury shares.
Transcend Residential Property Fund has finalised the Clean-out Distribution to shareholders at 29.44 cents per Transcend share.
The offer price in terms of the odd-lot offer to Quilter shareholders has been finalised at 88.10 pence/2,008.91 cents (ZAR) per share, representing a 5% premium to the VWAP price over the five trading days prior to 20 October, 2023.
Several listed companies reported repurchasing shares this week. They were:
Gemfields has completed its $10 million shareholder approved share buyback programme. In total, 58,423,901 ordinary shares were repurchased, representing 4.83% of the issued share capital on 30 November 2022. The shares will be cancelled in due course.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 16 – 20 October 2023, a further 4,022,308 Prosus shares were repurchased for an aggregate €108,43 million and a further 249,044 Naspers shares for a total consideration of R745,5 million.
Glencore intends to complete its programme to repurchase the company’s ordinary shares on the open market for an aggregate value of $1,2 billion by February 2024. This week the company repurchased a further 10,010,000 shares for a total consideration of £43,79 million.
Labat Africa has had the listing of its securities suspended on the JSE for failure to comply with the Listing Requirements by not publishing its financial statements for the year-ending 31 May 2023 within the prescribed period.
Three companies issued profit warnings this week: Santova, Tiger Brands and Life Healthcare.
Three companies issued or withdrew a cautionary notice: Chrometco, Clientele and Steinhoff Investment.
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