In August 2024 MC Mining secured potential investment of US$90 million to fund its Makado, Vele and the Greater Soutpansberg Projects. The investor, HKSE-listed Kinetic Development Group (KDG) agreed to invest via two tranches for a controlling 51% in the exploration, development and mining company. The initial tranche was for 13.04% (62,1 million shares) for an aggregate consideration of US$12,97 million. The second tranche which was conditional on the fulfilment of conditions precedent will now go ahead for an aggregate $77 million taking KDG’s interest in MC Mining up to 51%.

Lesaka Technologies has issued the first of two tranches of shares in the part settlement of its acquisition of Recharger announced in November 2024. 1,092,361 shares with a value of R98 million have been issued for the South African prepaid electricity submetering payment business with the second tranche (R75 million) due on 3 March 2026.

The change in names of Dipula Income Fund to Dipula Properties and of Transaction Capital to Nutun will become effective from 12 March and 18 March 2025 respectively.

Salungano whose listing is currently suspended on the JSE has advised that it intends to release the FY2024 financial results around 31 March 2025 and the FY2025 interim financial results shortly thereafter. Given this timeline, the company estimates that the suspension of its listing will be lifted around mid-April.

This week the following companies repurchased shares:

Over the period 28 January 2025 to 4 March 2025, Invicta repurchased 4,921,642 shares for an aggregate R156,48 million. The shares were repurchased in accordance with the general authority granted at the annual general meeting in September 2024, representing 5.08% of Invicta’s issued share capital. The buyback was funded from cash generated from operations.

Brikor has entered into an agreement with the Brikor Share Incentive Scheme to repurchased 15,900,000 shares at a purchase price of 14 cents per share for an aggregate R2,385,000. The repurchase is still to be approved by shareholders.

In its annual financial statements released in August 2024, South32 announced that it would increase its capital management programme by US$200 million, to be returned via an on-market share buy-back. This week 47,089 shares were repurchased at an aggregate cost of A$1,7 million.

On 19 February 2025, the Glencore plc announced the commencement of a new US$1 billion share buyback programme, with the intended completion by the time of the Group’s interim results announcement in August 2025. This week the company repurchased 15,000,000 shares at an average price per share of £3.19.

Schroder European Real Estate Trust plc acquired a further 113,100 shares this week at a price of 66 pence per share for an aggregate £74,533. The shares will be held in Treasury.

In October 2024, Anheuser-Busch InBev announced a US$2 billion share buy-back programme to be executed within the next 12 months which will result in the repurchase of c.31,7 million shares. The shares acquired will be kept as treasury shares to fulfil future share delivery commitments under the group’s stock ownership plans. During the period 24 – 28 February 2025, the group repurchased 540,000 shares for €29,78 million.

Hammerson plc continued with its programme to purchase its ordinary shares up to a maximum consideration of £140 million. The sole purpose of the buyback programme is to reduce the company’s share capital. This week the company repurchased 370,874 shares at an average price per share of 269 pence.

In line with its share buyback programme announced in March 2024, British American Tobacco plc this week repurchased a further 445,306 shares at an average price of £30.95 per share for an aggregate £13,78 million.

During the period February 24 – 28 2025, Prosus repurchased a further 6,538,359 Prosus shares for an aggregate €278,04 million and Naspers, a further 473,814 Naspers shares for a total consideration of R2,18 billion.

Four companies issued profit warnings this week: Merafe Resources, Thungela Resources, Mustek and SAB Zenzele Kabili.

During the week, five companies issued cautionary notices: MAS plc, TeleMasters, Labat Africa, Vukile Property Fund and Mustek.

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