In an update to shareholders, Anglo American (Anglo) advised that, subject to shareholder approval on 30 April 2025, the expected demerger date of Anglo American Platinum (Amplats) from the group to be 31 May 2025. Anglo confirming it would continue to hold an c.19.9% shareholding in Amplats for at least 90 days following the demerger. During 2024 Anglo sold down an 11.9% shareholding in Amplats from its original 79% stake. The remaining stake will be distributed to Anglo shareholders who will each receive 110 Amplats shares for every 1,075 Anglo shares held. Amplats is seeking a secondary listing on the LSE which will be in addition to the existing primary listing on the JSE. In conjunction with the demerger, Anglo intends to carry out a share consolidation to provide consistency in the Anglo share price before and after the demerger process.
BHP Group has purchased 3,234,465 shares in the open market on the ASX, LSE and JSE exchanges at an average price of A$39.68, £19.23 and R448.67 per share. The shares were purchased in terms of its Dividend Reinvestment Plan (DRIP).
The JSE has approved the transfer of the listing of Grand Parade Investments to the General Segment of Main Board with effect from 10 April 2025. The listing requirements in this segment are less onerous for the smaller and mid-cap firms.
This week the following companies repurchased shares:
EPE Capital Partners has acquired 13,500,000 A shares in an intra-group repurchase with EPE Capital Fundco. The shares were repurchased at R4.90 per share for a total value of R66,15 million. These, and other shares held in treasury, totalling 31,086,046 in aggregate, will be delisted and cancelled.
During the period 19 February 2025 to 4 April 2025, Netcare repurchased 42,713,982 ordinary shares at an average price per share of R13.1359 for an aggregate R561,1 million. The repurchase was funded from cash generated by operations.
Schroder European Real Estate Trust plc acquired a further 318,400 shares this week at an average price of 65 pence per share for an aggregate £206,307. The shares will be held in Treasury.
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 a further 823,202 ordinary shares at an average price of 125 pence for an aggregate £1,03m.
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 860,579 shares were repurchased at an aggregate cost of A$2,29 million.
On 19 February 2025, 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 17,250,000 shares at an average price per share of £2.42 for an aggregate £41,8 million.
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 31 March to 4 April 2025, the group repurchased 3,600,000 shares for €205,44 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 428,996 shares at an average price per share of 233 pence for an aggregate £996,391.
In line with its share buyback programme announced in March 2024, British American Tobacco plc this week repurchased a further 660,581 shares at an average price of £31.01 per share for an aggregate £20,48 million.
During the period 24 to 28 March 2025, Prosus repurchased a further 7,032,648 Prosus shares for an aggregate €293,83 million and Naspers, a further 512,676 Naspers shares for a total consideration of R2,34 billion.
Three companies issued profit warnings this week: Combined Motor Holdings, Trematon Capital Investments and aReit Prop.
During the week two companies issued cautionary notices: Mustek and Choppies Enterprises.
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