Thursday, December 26, 2024

Weekly corporate finance activity by SA exchange-listed companies

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The PBT special dividend of 75 cents per share (a total gross distribution of R156,9 million) has been approved and will be paid on 15 May.

Distell and Heineken have announced that all the scheme conditions have been completed and Distell will delist from the JSE on 28 April.

Kibo Energy issued a total of 794,893,911 new shares following a warrant conversion and convertible note conversion. 284,524,625 shares were issued for the warrants and 510,369,286 shares issued for the convertible loan note conversion.

The Jasco Electronics shareholders have approved the delisting resolution and the offer has become unconditional. The finalisation date announcement is expected to be released in early May.

The Kal Group (previously Kaap Agri) will repurchase and delist 247,843 shares following the release of the odd-lot offer results.

Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 17 to 21 April, a further 2,651,096 Prosus shares were repurchased for an aggregate €185,26 million and a further 566,392 Naspers shares for a total consideration of R1,9 billion.

Two companies issued profit warnings this week: Coronation Fund Managers and Renergen.

Three companies issued or withdrew cautionary notices: Trustco, Life Healthcare and Afristrat Investment.

DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com

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