Following the results of the scrip dividend election, Redefine Properties will issue 150,180,791 new ordinary shares in the company in lieu of a final cash dividend, resulting in a capitalisation of the distributable retained profits in the company of R668,31 million.
The board of Zeder Investments has approved a further special dividend of 11 cents per share to shareholders amounting to R169,4 million. This follows the dividend received by Zeder from the sale of Novo Fruit Packers by Capespan Agri.
Mantengu Mining has issued and will list, 15,933,813 shares on the JSE in terms of its R500 million drawdown facility announced in April this year.
Shareholders voted in favour of the buyout offer from Sasfin to acquire up to 10% of the company’s shares. With shareholders holding a collective 28,96 million shares representing 90.14% of the shares in issue having provided irrevocable undertakings not to accept the offer, and so remain invested in an unlisted company, Sasfin is expected to delist on 30 December 2024.
EOH will trade under its new name iOCO and JSE share code IOC, with effect from Wednesday 11 December 2024.
The JSE has approved the transfer of the listings of Rex Trueform and African and Overseas Enterprises to the General Segment of Main Board with effect from commencement of trade on 2 December 2024. Crookes Brothers and Sebata followed suit on 4 and 5 December 2024 respectively. The listing requirements in this segment are less onerous for the smaller cap firms.
In its Quarterly Report, suspended Salungano has advised shareholders that it intends to release the FY2024 financial results around 31 March 2025 and the FY2025 interim results shortly thereafter. Given this, the company estimates that its suspension on the JSE will be lifted around mid-April 2025.
This week the following companies repurchased shares:
In October, 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 25 – 29, November 2024, the group repurchased 405,708 shares for €21,04 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 531,166 shares at an average price per share of 292 pence.
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 541,992 shares were repurchased at an aggregate cost of A$2,02 million.
In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 286 020 shares at an average price of £29.67 per share for an aggregate £8,49 million.
In the six months to end September 2024, Prosus and Naspers repurchased 92,689,659 (US$3,3 billion) and 7,037,420 ($1,4 billion) N shares respectively, representing 4% of the outstanding N ordinary shares in issue. During the period 25 – 29, November 2024, a further 2,482,721 Prosus shares were repurchased for an aggregate €94,6 million and a further 207,949 Naspers shares for a total consideration of R1,92 billion.
One company issued a profit warning this week: Labat Africa.
During the week, five companies issued cautionary notices: Conduit Capital, Choppies Enterprises, Super Group, Vukile Property Fund and Transaction Capital.
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