AltVest Capital, which is in the process of moving its listing from the Cape Town Stock Exchange (CTSE) to the JSE’s AltX, has announced the results of its capital raise. The company raised R18,2 million (from a potential R116,9 million) and will issue 1 million Ordinary shares, 1,619,224 A shares, 409,695 B shares and 1,339,416 C shares. The Ords, A, B and C shares were offered at the following price per share – R6.50, R1.80, R11.00 and R3.20 respectively. Each of the equity offerings (A-C shares) are linked to an investee company – Umganu Lodge, Bambanani Family Group and Altvest Credit Opportunities Fund. The shares will commence trading on AltX from 14 October 2024.
Efora Energy’s suspension on the JSE, implemented in October 2020, has been lifted as of trading on 30 September 2024. The company was suspended for failure to submit its annual financial statements in the required time frame in accordance with the JSE Listing Requirements.
Companies still suspended on the JSE and providing updates to shareholders include Chrometco, Conduit Capital and PSV.
This week the following companies repurchased shares:
South32 announced in its annual financial statements released in August that it would increase its capital management programme by US$200 million, to be returned via an on-market share buy-back. This week 925,327 shares were repurchased for an aggregate cost of A$3,39 million.
In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 447,913 shares at an average price of £27.51 per share for an aggregate £12,3 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 23 – 27 September 2024, a further 4,382,351 Prosus shares were repurchased for an aggregate €162,3 million and a further 155,863 Naspers shares for a total consideration of R596,6 million.
Two companies issued profit warnings this week: Insimbi Industrial and Balwin Properties.
During the week, five companies issued cautionary notices: Tongaat Hulett, TeleMasters, African Dawn Capital, Clientèle and PSV.
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