As part of its capital optimisation strategy, Investec Ltd acquired on the open market a further 609,989 Investec Plc shares at an average price of 461 pence per share (LSE and BATS Europe) and 315,503 Investec Plc shares at an average price of R109.81 per share (JSE).

In line with the company’s policy to maintain the number of treasury shares below 10%, Glencore has advised shareholders that it has cancelled 100 million treasury shares.

Industrials REIT which has a secondary listing on the JSE will, following the scheme of arrangement announced in April by a fund managed by Blackstone, delist from the JSE on 27th June 2023.

Resource Generation’s secondary listing on the JSE was suspended in October 2020 due to non-compliance with the Listing Requirements. According to an announcement by the JSE, the company has failed to take adequate action to enable it to reinstate the company’s listing and as such will be removed from July 3, 2023.

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:

Southern Sun has repurchased 48,841,627 shares at an average price per share of R4.20 for an aggregate value of R205,1 million. The repurchase was funded from available cash resources. The company now hold 100 million treasury shares representing 6.8% of the company’s issued share capital.

Adcock Ingram has cumulatively repurchased 8,108,862 ordinary shares from shareholders representing 4.8% of the company’s issued share capital. The shares were repurchased for a total value of R416,8 million. Following the repurchase the company holds 16,922,821 treasury shares.

Investec’s share repurchase programme has been renewed and commenced on May 30. The programme will end on or before September 29. This week 289,998 shares were repurchased at an average price per share of R109.32. Since November 21 ,2022, the company has repurchased 11,490,575 shares at a cost of R1,23 billion.

This week Glencore repurchased a further 16,920,000 shares for a total consideration of £78,28 million. The share repurchases form part of the second phase of the company’s existing buy-back programme.

Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 12-16 June 2023, a further 2,484,946 Prosus shares were repurchased for an aggregate €169,1 million and a further 326,922 Naspers shares for a total consideration of R1,03 billion.

Two companies issued profit warnings this week: Sephaku and PPC and two companies issued or withdrew a cautionary notice: Clientèle and PSV.

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