Prosus has reduced its shareholding in Tencent to 23.995%. The proceeds from the open market disposal of 474,000 ordinary shares will be used to fund the company’s continued implementation of its repurchase programme.
Following the results of the scrip dividend elections, Oasis Crescent Property will issue 529,634 new units in the company in lieu of a final cash dividend, resulting in the reinvestment of R15,73 million. Datatec will issue 2,965,247 new ordinary shares resulting in a capitalisation of distributable retained profits in the company of R116,32 million.
Pan African Resources will issue 112,812,217 new shares as payment for the US$54,2 million (R943 million) acquisition of Tennant Consolidated Mining Group in early November 2024.
The JSE welcomed the secondary listing of Supermarket Income REIT on 13 December 2024. The UK-based, LSE-listed real estate investment trust is an investor in omnichannel supermarket properties across the UK and France. The secondary listing, by way of the fast-track listing process, saw 1,246,239,185 shares list on the Main Board in the Retail REITs sector.
The JSE has approved the transfer of the listing of Sygnia to the General Segment of Main Board with effect from commencement of trade on 10 December 2024. Marshall Monteagle and Ayo Technology Solutions followed suit on 11 December and Combined Motor Holdings on 13 December 2024. The listing requirements in this segment are less onerous for the smaller cap firms.
Following the implementation of the acquisition by NewRiver REIT of the shares of Capital & Regional (C&R), the C&R shares, listed on the LSE and JSE, were suspended and will delist from the JSE on 27 December 2024.
The Board of Dipula Income Fund will ask shareholders at the next AGM in February 2025 to approve a change of name to Dipula Properties which, the Board believes, more accurately reflects the nature of the company’s business. If approved, the name change will be effective 12 March 2025.
This week the following companies repurchased shares:
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 440,841 shares at an average price per share of 290 pence.
In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 358,290 shares at an average price of £29.72 per share for an aggregate £10,65 million.
During the period 2 – 6, December 2024, Prosus repurchased a further 3,192,838 Prosus shares for an aggregate €126,4 million and Naspers, a further 233,242 Naspers shares for a total consideration of R1 billion.
One company issued a profit warning this week: Transaction Capital.
During the week, five companies issued cautionary notices: Europa Metals, Astoria Investments, Barloworld, Murray & Roberts and Transaction Capital.
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