Barloworld is to unbundle and list Zeda next month in the final step of its five-year journey of refocussing on its core earth-moving equipment and food-procurement businesses. Zeda, a wholly-owned subsidiary of Barloworld, which currently houses Barloworld’s investment in its car rental and vehicle leasing house brands Avis and Budget. Shareholders will receive one Zeda share for every one Barloworld share held. Further details on the listing price and projected market valuation will be released in due course.
Renergen has successfully placed an aggregate of 4,365,670 shares raising a total of R107,6 million. The proceeds will be used towards working capital, additional costs relating to the studies required for the further development of Phase 2 of the Virginia Gas Project and costs associated with the turning on of the Phase 1 liquid helium plant.
Further details on Premier’s listing were released. Brait will offer up to 65,031,587 ordinary shares in a price range of R53.82-R67.04. The company will list 128,905,800 shares on 8 December, 2022 in the Food Products sector of the main board of the JSE.
Europa Metals has conditionally raised £580,000 via a subscription for 12,888,888 new shares in the company at an issue price of 4.5 pence (R0.922) per share. The issue price represents a premium of c.60.7% to the closing price on 22 November of 2.8 pence. Following admission, the shares will represent in aggregate 18.87% of the enlarged issued share capital.
Grindrod has announced a special dividend of 55.90 cents per ordinary share as a cash return of 25% of the consideration received from the sale of Grindrod Bank.
Cilo Cybin, the local medical cannabis company which planned to list later this month, has had to abandon its plans after failing to raise enough capital in its IPO. The company raised R20,5 million from investors but required a minimum of R500 million to list on the main board of the JSE or R50 million for a listing on AltX.
A number of companies listed on one of South Africa’s Stock Exchanges have initiated share buyback programmes and each week update shareholders. They are:
In the period 17 May 2022 to 23 November 2022, Spur Corporation repurchased 2,759,000 ordinary shares, representing 3% of the issued share capital of the company. The shares were repurchased for an aggregate R56,59 million. Following the repurchases, the company currently holds 9,795,389 ordinary shares in treasury.
Investec has announced the extension of its repurchase programme which was scheduled to end on or before November 17. The JSE- and LSE-listed company will now repurchase an additional R5.8 billion pushing the total value of its repurchase programme to R7 billion.
4Sight has received shareholder approval to repurchase 125,5 million shares (19% of its share capital). The R16 million repurchase will be funded from cash reserves.
Glencore this week repurchased 18,770,000 shares for a total consideration of £92,19 million. The share repurchases form part of the second phase of the Company’s existing buy-back programme which is expected to be completed by February 2023.
South32 has this week repurchased a further 3,388,039 shares at an aggregate cost of A$13,61 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period November 14 – 18, a further 6,167,321 Prosus shares were repurchased for an aggregate €632,05 million and a further 613,279 Naspers shares for a total consideration of R1,53 billion.
British American Tobacco repurchased a further 411,164 shares this week for a total of £12,29 million. Following the purchase of these shares, the company holds 217,764,441 of its shares in Treasury.
Four companies issued profit warnings this week: Naspers, Prosus, Brikor and Buka Investments.
Four companies issued or withdrew cautionary notices. The companies were: Murray & Roberts, Afrocentric Investment, Conduit Capital and Huge.
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