EOH’s rights offer which closed on 10 February, 2023 was oversubscribed, raising R500 million as first announced in November 2022. All 384,615,384 shares were issued at R1.30 per share. In addition, Lebashe Investment Group subscribed for 76,923,076 shares raising a further R100 million.
Alternative trading platform ZARX has had its license cancelled by the Financial Sector Conduct Authority. The Public Investment Corporation holds a 24.14% stake in the exchange. ZARX’s license was suspended in August 2021 due to liquidity and capital adequacy noncompliance.
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:
Argent Industrial repurchased 51,429 shares representing 0.09% of the issued share capital of the company for an aggregate value of R787,19 million.
Hudaco Industries repurchased 1,562,860 shares at an average price of R151,05 per share for a total value of R236,1m. The shares will be delisted and cancelled.
Textainer announced it has repurchased 1,543,267 shares at an average price of US$29.29 per share during the fourth quarter of 2022.
Glencore this week repurchased 22,600,000 shares for a total consideration of £132,59 million. The share repurchases form part of the second phase of the company’s existing buy-back programme which is expected to be completed this month.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 6 to 10 February 2023, a further 3,087,207 Prosus shares were repurchased for an aggregate €228,2 million and a further 520,956 Naspers shares for a total consideration of R1,77 billion.
Nine companies issued profit warnings this week: Pan African Resources, Curro, PSV, Anglo American Platinum, Santam, Gold Fields, Cashbuild, AngloGold Ashanti and Brimstone Investment.
Four companies issued or withdrew cautionary notices. The companies were: Premier Fishing and Brands, Attacq, African Equity Empowerment Investments and Life Healthcare.
DealMakers is SA’s M&A publication.
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