Exchange-Listed Companies
In a restructure of its aftermarket heavy-duty diesel engine parts supplier, Afrimat has disposed of KMP to Kian Ann Engineering (KA) in which Invicta holds a 48.81%. The rationale for the £12,6 million (R299,7 million) disposal is the belief that businesses of KMP and KA Group, combined, will create an entity with strategic focus, better able to leverage off Invicta’s strong management capabilities and KA Group’s strong procurement, network and manufacturing capabilities.
Ibex Investment intends to repurchase all outstanding non-redeemable, non-cumulative, non-participating preference shares through an offer to shareholders to acquire the shares for a cash consideration of R93.50 per scheme share. In addition, shareholders will receive a preference dividend bringing the total scheme consideration to R98.17 per share. Preference shareholders collectively holding 81.96% of the preference shares in issue, have provided irrevocable undertaking to vote in favour of the scheme. If the scheme is successful, the shares will be suspended on 19th June with the termination of listing on 25th June 2024.
The JSE has signed a memorandum of understanding with Saudi Tadawul Group, aimed at exploring dual-listing opportunities and broader market participation, aligning with the JSE’s strategic goal to diversify and deepen its investor base. The Riyadh-headquartered group is the holding company of a portfolio of four integrated subsidiaries: the Saudi Exchange, the Securities Clearing Centre, the Securities Depository Centre and Wamid, an innovative applied technology services business.
Unlisted Companies
GrubMarket, an AI-powered technology enabler and digital transformer of the American food supply chain industry, has acquired Cape-based Global Produce, a fresh produce business that sources and distributes a wide range of local fresh fruits to outlets across 44 countries. The South African acquisition forms part of GrubMarket’s physical presence expansion internationally. Financial details were undisclosed.
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