As part of its capital optimisation strategy, Investec Ltd acquired on the open market a further 280,009 Investec Plc shares at an average price of 435 pence per share (LSE and BATS Europe) and 294,217 Investec Plc shares at an average price of R107.73 per share (JSE).
Datatec has issued 4,606,140 new Datatec shares in terms of its scrip dividend election at R36,42 per share amounting to R167,7 million.
The specific repurchase by Texton Property Fund of 72,1 million of its shares from the Government Employees Pension Fund for R155 million is unconditional and the shares will be delisted on 20th July.
Tsogo Sun, which dropped ‘Gaming’ from its name in June, proposes to implement an odd-lot offer to facilitate a reduction in the large number of shareholders who hold less than 100 Tsogo Sun shares. The offer price will be announced is expected to be announced in mid-August with the results of the offer released on 11 September 2023.
The consolidation of Nampak’s shares as set out in the circular sent out in May will take effect next week on 26 July, 2023. The authorised and issued share capital will be consolidated and reduced in the ratio of 1 share for every 250 shares.
The JSE has flagged the following companies as having failed to submit their provisional reports within the three-month period as stipulated in the JSE’s Listing Requirements: Accelerate Property Fund, Salungano Group and Sebata Holdings. If provisional reports are not submitted on or before 31 July, 2023, their listings may be suspended.
The following companies reported repurchasing shares. They were:
Investec’s share repurchase programme has been renewed and commenced on May 30. The programme will end on or before September 29. Over the period 10 -14 July 2023, 329,4031 shares were repurchased at an average price per share of R106.73. Since November 21 2022, the company has repurchased 13,041,882 shares at a cost of R1,39 billion.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 10-14 July 2023, a further 2,677,348 Prosus shares were repurchased for an aggregate €179,76 million and a further 431,515 Naspers shares for a total consideration of R1,4 billion.
Four companies issued profit warnings this week: Anglo American Platinum, Arcelor Mittal, Pick n Pay and Kumba Iron Ore.
Two companies issued or withdrew a cautionary notice: Astoria Investments and Trustco.
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