Following the results of the scrip dividend election, Hyprop Investments will issue 20,832,563 ordinary shares in the company in lieu of a dividend, resulting in a capitalisation of the distributable retained profits in the company of R499,981,512.
Due to the disposal of two businesses, enX finds itself in the enviable position of having surplus proceeds to the operational requirements of the company and as such, has declared a special distribution of R1.00 per enX share. The distribution of R182 million will be paid to shareholders on 27 November 2023.
Mantengu Mining has issued 10 million shares, representing 6.49% of its issued share capital, to GEM Global Yield at R1.13 per share. The shares were issued to discharge a commitment fee due by the company for access to a share subscription facility of up to R500 million.
Several listed companies reported repurchasing shares this week. They were:
During the period 27 July to 1 November 2023, Ninety One ltd repurchased 8,900,922 ordinary shares, representing 3% of its issued share capital. The shares, which will be cancelled, were repurchased for an aggregate value of R345,6 million financed from excess cash resources.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 30 October – 3 November 2023, a further 3,965,096 Prosus shares were repurchased for an aggregate €107,7 million and a further 343,784 Naspers shares for a total consideration of R1,02 billion.
Glencore intends to complete its programme to repurchase the company’s ordinary shares on the open market for an aggregate value of US$1,2 billion by February 2024. This week the company repurchased a further 10,010,000 shares for a total consideration of £43,8 million.
To better reflect the nature of its business, Go Life International will, subject to shareholder approval, change its name to Numeral. The company is a multi-faceted healthcare company offering a comprehensive product range to address needs from pharmaceutical, generic, nutraceutical, medical consumables through to high-end hospital equipment. If approved, the company is expected to trade under its new name on 12 December 2023.
Four companies issued profit warnings this week: Sephaku, Omnia, TWK Investments and MultiChoice.
Five companies issued or withdrew a cautionary notice: Clientèle, Ayo Technology Solutions, Conduit Capital, Ascendis Health and Tongaat Hulett.
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