- Capital & Counties Properties Plc (known as Capco and listed on the JSE as well as in London) has responded to press speculation by confirming that it is in merger discussions with Shaftesbury Plc. This would create a REIT focused on the West End of London with exposure to retail, hospitality, office and residential properties. Shaftesbury shareholders would own 53% of the combined company and Capco shareholders would own 47%. Capco already owns 25.2% of Shaftesbury. Importantly, no firm offer has been made at this stage.
- AngloGold Ashanti achieved flat production year-on-year but is down vs. the previous quarter. Efficiency gains have helped mitigate some of the inflationary pressures. Although EBITDA margin has gone in the wrong direction, things are starting to look better here. I’ve written a feature article on this update that you can read here.
- Orion Minerals has announced a potential funding package for the Prieska Copper-Zinc Mine. Separately, the company has also secured the opportunity to develop a battery metals facility in the Northern Cape. To accompany the exciting news, Orion also released an investor presentation. I’ve written a feature article covering these topics that you can read here.
- Harmony Gold Mining has confirmed that four employees tragically lost their lives in a maintenance-related incident at the Kusasalethu Mine near Carletonville. The affected area has been closed for an investigation to be undertaken.
- Transaction Capital (a core holding in my portfolio) has released a trading statement for the six months ended March 2022. Core HEPS from continuing operations will be between 26% and 31% higher. HEPS on an unadjusted basis will be approximately flat (between -2% and 3% vs. the comparable six month period), reflecting substantial costs and imputed interest charges related to the WeBuyCars deal. Guidance for FY22 is core HEPS growth at a rate higher than pre-pandemic, driven by a steady recovery in SA Taxi and high growth rates in WeBuyCars and Transaction Capital Risk Services.
- MAS Real Estate shareholders should note that a detailed presentation regarding the acquisition of six retail centres in Romania from the company’s joint venture partner has now been made available. The company also plans to extend the term of the joint venture, as it provides the necessary pipeline for MAS to reach its growth objectives in Central and Eastern Europe. You can view the presentation at this link for more details.
- Calgro M3 has released an updated trading statement that confirms a substantial turnaround in fortunes. HEPS for the year to February 2022 will be between 104.87 cents and 106.39 cents vs. a loss of 15.17 cents in the prior year. Gross profit margin was within target range and net debt to equity is better than the target of 0.75x that was set for 2024. Net cash generated from operations was R129.9 million. The share price traded more than 7% higher on the day.
- Sanlam has confirmed that the UK business has finalised the disposal of its shareholdings in Sanlam Life and Pensions UK, Sanlam Private Investments UK and Sanlam Wealth Planning Holdings UK. The transactions were previously announced in September 2021. The deal is worth GBP153 million after costs and is aligned with Sanlam’s strategy of focusing on African and other emerging markets.
I think congratulations are in order here, Ghost. I’ve been following you for a while now and it’s amazing to see you growing from strength to strength. Thank you for all that you do and all the best.
Thanks so much – there’s always more to come!
A great fan of Ghost mail
Thank you very much Wayne!
With growth comes wisdom. Cheers 🥂🥂☄️
Indeed! And a few new grey hairs…
Fantastic
Your contribution to Society is well recognized
Appreciated
Thank you! We are all on this journey together 🙂
Congratulations and Thank you so much Mr Ghost for your wisdom and insights… Ghost mail is what starts up my every weekday! Big fan ☺️
Thanks so much Priscilla!
Well done guys…a must read for me ;Thank you !!
Thanks Chris! Hope you keep enjoying it.
Great work Ghost, best daily round up of what went on in the markets
I appreciate that Haroon!
Well done – amazing what you have achieved for our benefit. Thank you
Thanks Bernie – and the journey is far from over!
Well done to you Ghost. Some incredible content and great new website!
Thank you very much Simon!
Great platform – always appreciate your insights and guidance. Regards
Thanks for the kind words!
Wishing you everything of the best. Thank you, appreciate the posts.
Thanks so much for the wishes!
I like the new fresh approach to Ghost Mail. Well done and best of luck.
For us easier and enjoyable reads!
Thanks so much Haroon! And for all your support to help me get to this point.
Love your writings with the odd F1 reference sprinkled in. You’ve also had some epic calls with I followed (*after* DMOR of course…ahem!) Sadly you’re a Red Bull fan, but I’ll forgive you for that as long as you promise to keep up the brilliant work!
Hahaha love it! I’m mainly a Lando Norris fan actually – which didn’t work out so well in Miami!
loving the ghost bits.. fantastic jo
Thank you!
What a GREAT article. Thank you so much for the effort you put it – it really helps those of us with limited time and limited knowledge to stay up to date. Thank you!
Thanks – that’s exactly what Ghost Bites is all about!
Great reading to keep the overseas investors in SA stocks updated.
Glad you’re enjoying it!