In a move to increase its exposure to SA Corporate Real Estate (SAC), Castleview Property Fund acquired 48,681,480 SAC shares at an average purchase price of R2.85 per share for an aggregate consideration of R138,88 million. The purchase was executed by way of on-market block trades on the JSE.
Mantengu Mining has issued and will list, 24,881,093 shares on the JSE in terms of its R500 million drawdown facility announced in April 2024.
In November 2024 London Finance & Investment Group plc announced the sale of its liquid investments and that it proposed to cease activities in early 2025 by way of returning capital to shareholders and delisting the company from the LSE and JSE. The company has now confirmed shareholders will receive an estimated 71 pence in cash for each ordinary share held. The company has 31,287,479 shares in issue of which 80,000 are not listed. It is expected that the company’s listings will be terminated in early May 2025.
On 26 February the JSE notified Ayo Technology shareholders that it had suspended the company’s listing with immediate effect following the failure, as per the JSE Listing Requirements, to publish its annual report for the year-end August 2024 within the prescribed period.
This week the following companies repurchased shares:
Netcare concluded an intra-group repurchase with subsidiary Netcare Hospital Group in terms of which Netcare acquired 25,082,254 ordinary shares at a price of R13.46 per share.
Transpaco has repurchased one million shares, representing 3.47% of the company’s issued share capital. The shares were repurchased at an average of R37.00 per share, funded from cash resources. The shares will be delisted and cancelled.
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 324,074 shares were repurchased at an aggregate cost of A$1,18 million.
On 19 February 2025, the 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 21,500,000 shares at an average price per share of £3.26.
Schroder European Real Estate Trust plc acquired a further 85,200 shares this week at a price of 66 pence per share for an aggregate £56,232. The shares will be held in Treasury.
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 17 – 21 February 2025, the group repurchased 348,000 shares for €17,71 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 334,920 shares at an average price per share of 287 pence.
In line with its share buyback programme announced in March 2024, British American Tobacco plc this week repurchased a further 572,899 shares at an average price of £30.15 per share for an aggregate £17,28 million.
During the period February 17 – 21 2025, Prosus repurchased a further 5,826,415 Prosus shares for an aggregate €262,35 million and Naspers, a further 450,990 Naspers shares for a total consideration of R2,18 billion.
Five companies issued a profit warning this week: Grindrod, African Rainbow Minerals, Oceana, Afrocentric Investment and MTN.
During the week, two companies issued cautionaries: Choppies Enterprises and Conduit Capital.
DealMakers is SA’s M&A publication.
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