Welcome to Ghost Wrap. It’s fast. It’s fun. It’s informative.

In this week’s episode of Ghost Wrap, we cover:

• Absa announced a B-BBEE deal that I strongly feel is a missed opportunity, as no shares are being made available for investment by retail investors.
• RCL Foods is selling vector logistics, a company that has been considered non-core for a while, to an emerging markets infrastructure fund linked to an investment house in Denmark.
• Metair surely has the worst luck of any company on the JSE, with a horrible year capped off by the interim CEO being in an accident and the earnings roadshow being postponed.
• York Timber needs to improve its operations and quickly, reporting poor numbers that make me question whether we might see another equity raise at some point in time.
• Nampak now has a Chief Restructuring Officer and it looks as thought a rights offer will need to go ahead, although we still don’t know how big it will be.
• EOH has been to hell and back, but the company may well have bottomed here based on the latest results.
• Bell Equipment has released excellent results and a strong outlook, along with a depressing paragraph in the earnings about the impact of load shedding on its local manufacturing strategy.
• Barloworld is enjoying strong demand in the equipment businesses (outside of Russia), but is struggling with margins in the Consumer Industries segment.

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