This week was all about share repurchases and profit warnings.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 6 – 10 November 2023, a further 4,351,713 Prosus shares were repurchased for an aggregate €124,7 million and a further 326,470 Naspers shares for a total consideration of R1,04 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 £43,88 million.
Super Group has concluded an intra-group repurchase of 5,309,812 shares at a price of R34.51 per Super Group share for an aggregate R183,24 million. The shares will be delisted.
Quilter plc has repurchased 15,798,423 shares in terms of its odd-lot offer. A total of 15,798,423 shares were acquired – 291,711 shares at 88.10 pence and 15,506,712 shares at R20,08 per share.
Five companies issued profit warnings this week: Quantum Foods, Dipula Income Fund, Trematon Capital Investments, Capital Appreciation, Afine Investments and AH-Vest.
Cognition was the only company this week to issue a cautionary notice. The company is in discussions with its holding company, Caxton and CTP Publishers and Printers which, it says may result in an offer by Caxton to acquire those shares in Cognition not already held. Will this be another delisting from the JSE?
DealMakers is SA’s M&A publication.
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