The JSE has approved the transfer of the listing of Sephaku to the General Segment of Main Board with effect from commencement of trade on 24 March 2025. The listing requirements in this segment are less onerous for the smaller cap firms.
This week the following companies repurchased shares:
Thungela Resources will implement a share repurchase programme commencing 18 March and ending on 4 of June 2025. The repurchase of shares will take place on the JSE with the aggregate purchase price not exceeding R300 million.
On March 6, 2025, Ninety One plc announced that it would undertake a repurchase programme of up to £30 million. The shares will be purchased in the open market and cancelled to reduce the Company’s ordinary share capital. This week the company repurchased 1,964 of its ordinary shares at an average price of 145 pence.
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 352,304 shares were repurchased at an aggregate cost of A$1,27 million.
On 19 February 2025, 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 11,500,000 shares at an average price per share of £3.19.
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 10 – 14 March 2025, the group repurchased 842,367 shares for €48,43 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 320,987 shares at an average price per share of 249 pence.
In line with its share buyback programme announced in March 2024, British American Tobacco plc this week repurchased a further 430,381 shares at an average price of £31.75 per share for an aggregate £13,67 million.
During the period February 10 to 14 March 2025, Prosus repurchased a further 6,551,068 Prosus shares for an aggregate €281,74 million and Naspers, a further 370,294 Naspers shares for a total consideration of R1,73 billion.
One company issued a profit warning this week: Astoria Investments.
During the week two companies issued cautionary notices: Tongaat Hulett and ArcelorMittal South Africa.
DealMakers is SA’s M&A publication.
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