As part of its strategic review of its investment portfolio, Brimstone Investment has disposed of 8,836,487 ordinary shares in Equites Property Fund for a total consideration of R123,9 million. The proceeds from the disposal will be applied to meet funding obligations in the near to medium term. The disposal is classified as a Category 2 transaction and accordingly does not require shareholder approval.
The logistics and fleet management company, Karooooo, will embark on a share repurchase programme to buy back up to 10% of its shares. This will be done through market purchases on the JSE and the Nasdaq.
Following the launch of the share buy-back programme announced in October 2023, AB InBev has repurchased a further 512,809 shares at an average price of €58.46 per share for an aggregate €29,98 million. The shares were repurchased over the period 5 – 9 February 2024.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 5 – 9 February 2024, a further 4,080,757 Prosus shares were repurchased for an aggregate €118,88 million and a further 493,133 Naspers shares for a total consideration of R1,48 billion.
MC Mining’s Independent Board, has again, recommended to shareholders not to accept the off-market takeover offer from Goldway warning that it is opportunistic, and does not provide an appropriate premium for control.
The JSE has warned shareholders that Ellies has failed to submit its interim report within the three-month period as stipulated in the Listing Requirements. If the company still fails to submit its interim report by 29 February, then its listing may be suspended.
Five companies issued profit warnings this week: Sasol, Insimbi Industrial, Gold Fields, Cashbuild and Kap.
Cognition was the only company to issue a cautionary notice this week.
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