Following the receipt of proceeds of R287,9 million from the sale of its shareholdings in Centlube, Ingwe Lubricants and Zestcor Eleven, enX has resolved to declare a gross special distribution of R1.55 to enX shareholders. The distribution will be made to shareholders on 7 April 2025.
The JSE has approved the transfer of the listing of Gemfields to the General Segment of Main Board with effect from commencement of trade on 11 March 2025. The listing requirements in this segment are less onerous for the smaller cap firms.
On 11 March 2025, the board of directors of Exxaro Resources approved a share repurchase programme to the value of R1.2 billion, subject to prevailing market conditions.
This week the following companies repurchased shares:
On March 6, 2025, Ninety One plc announced that it would undertake a repurchase programme of up to £30 million. The shares will be purchased in the open market and cancelled to reduce the Company’s ordinary share capital. This week the company repurchased 230,149 of its ordinary shares at an average price of 144 pence.
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 1,955,017 shares were repurchased at an aggregate cost of A$7,05 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 14,750,000 shares at an average price per share of £3.19.
Schroder European Real Estate Trust plc acquired a further 118,800 shares this week at a price of 66 pence per share for an aggregate £78,368. 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 3 – 7 March 2025, the group repurchased 829,197 shares for €47,97 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 420,105 shares at an average price per share of 256 pence.
In line with its share buyback programme announced in March 2024, British American Tobacco plc this week repurchased a further 551,358 shares at an average price of £31.34 per share for an aggregate £17,28 million.
During the period February 24 – 28 2025, Prosus repurchased a further 7,522,387 Prosus shares for an aggregate €328,99 million and Naspers, a further 490,812 Naspers shares for a total consideration of R2,33 billion.
Five companies issued profit warnings this week: Exxaro Resources, South Ocean, Insimbi Industrial, Hulamin and Randgold & Exploration.
During the week two companies issued cautionary notices: Trustco and Vukile Property Fund.
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