Exchange-Listed Companies

Following the completion of a four-month due diligence process, Copper 360 has provided an update to shareholders on its November 2023, R200 million acquisition of Nama Copper Resources. The Nama Copper plant has exceeded expectations vis-à-vis structure, integrity and performance and a management team appointed. Copper 360 has paid a total of R140,5 million to Mazule Resources with a further R9,5 million due to be paid in the next two weeks. It will no longer pay a further R50 million to Mazule as it has concluded a new offtake agreement with Fujax UK.

MC Mining’s independent board committee continues to advise shareholders not to accept the A$0,16 per share cash offer from Goldway Capital Investment. It draws shareholders’ attention to the independent expert’s report which has found that the offer to be neither fair nor reasonable suggesting rather, a range of between $0.214 and $0.356.

Unlisted Companies

NCino is a financial technology company headquartered in Wilmington, North Carolina, has acquired DocFox in a deal valued at US$75 million. DocFox, based in Johannesburg, automates the process of onboarding and account opening for banks. The software will be integrated into nCino’s tech stack offering financial institutions a wider range of services to offer clients.

Local liquor retailer Norman Goodfellows has acquired a substantial interest in Port2Port.wine, an online fine wine marketplace. Norman Goodfellows brings to the table its logistics network, warehousing capabilities, and a broad product range, particularly in spirits. Port2Port.wine will continue to operate as an independent brand under its current management team.

Under business rescue since 2022, Baywest Mall in Nelson Mandela Bay and Hemingways Mall in Buffalo City have been acquired by Hangar 18. The properties acquired in September 2023 were each purchased for R1,3 billion.

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