Advanced Health intends declaring a Clean-Out dividend to shareholders of 20 cents per share. The payout is conditional on the Scheme (the offer to acquire the issued shares of the company by Eenhede Konsultante Eiendoms Beperk at 80 cents per share) being declared wholly unconditional.
Resilient REIT has disposed of 162,431,649 shares in Hammerson plc for an aggregate consideration of R982,2 million. Although Hammerson’s results were well received by the market, the Resilient Board says its priority remains focused on Resilient’s energy initiatives and funding its capital commitments while retaining conservative leverage.
Finbond will ask shareholders to vote on the repurchase from related parties of 38.55% of the total issued Finbond shares. The company will repurchase 220,523,358 shares from Net1Finance and 120 million shares from Massachusetts Institute of Technology at a price of 29.11 cents per share. The shares, if repurchased, will be delisted.
Glencore intends to complete its programme to repurchase the company’s ordinary shares on the open market for an aggregate value of $1,2 billion by February 2024. This week the company repurchased a further 10,010,000 shares for a total consideration of £43,6 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 7 – 11 August 2023, a further 2,185,222 Prosus shares were repurchased for an aggregate €145,97 million and a further 272,116 Naspers shares for a total consideration of R930,3 million.
Six companies issued profit warnings this week: Exxaro Resources, Italtile, Northam Platinum, Impala Platinum (update), KAP and Aveng.
Four companies issued or withdrew a cautionary notice: Finbond, Ayo Technology Solutions, Conduit Capital and Trustco.
DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com
