Marylou Greig
BHP is to pay shareholders an in specie dividend in the form of Woodside Petroleum shares in connection with the merger of its oil and gas portfolio with Woodside. BHP will receive 914,768,948 Woodside ordinary shares as part of the merger.
As per the company announcement in March, Quilter this week announced it had returned £328 million to shareholders, via the allotment and redemption of 1,638,123,081 B shares relating to the B Share Scheme (there are 1,64 million existing ordinary shares in issue). The B shares, which were not listed, were redeemed for 20 pence per B share on May 24, 2022.
Resilient REIT has advised its shareholders that the market value of Lighthouse Properties’ shares for the purposes of the distribution announced in April will be R7.85 per share. Resilient announced it would make a distribution in specie of 190,741,186 Lighthouse shares to Resilient shareholders at a ratio of 0,48000 Lighthouse shares for every one Resilient share held.
Tsogo Sun Hotels has been rebranded to Southern Sun. The decision follows the separate listing of the hotel group in 2019 and realisation that the gaming and hotel groups operate in different markets making the joint use of the Tsogo Sun brand not optimal. The company’s share code will remain unchanged.
Kibo Energy has issued 56,118,047 new Kibo shares at £0.0016 per share to Sanderson Capital Partners in settlement of a £89,788 loan.
The inward listing on the JSE (and on the ASX) by Southern Palladium has been delayed and will not list on May 25 as previously reported. The company is waiting confirmation of the revised listing date from the ASX.
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:
The repurchase programme announced on March 24, 2022 by Reinet Investments has been completed with the total repurchase of 2,500,000 shares for a total consideration of R810,2 million (€49,2 million). The shares repurchased will be held as treasury shares.
Glencore this week repurchased 2,211,242 shares for a total consideration of £11,5 million in terms of its existing buyback programme which is expected to end in August 2022.
South32 this week repurchased 1,313,091 shares for an aggregate cost of A$6,15 million.
This week British American Tobacco repurchased 1,660,000 shares for a total of £44,02 million. The purchased shares will be held in treasury with the number of shares permitted to be repurchased set at 229,400,000.
This week four companies issued profit warnings. The companies were: Tharisa, Tsogo Sun Hotels, Brikor and Mix Telematics.
Five companies issued cautionary notices to shareholders this week. The companies were: Etion, Hulamin, Tradehold, Datatec and Mahube Infrastructure.
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