Brait’s fully underwritten equity capital raise closed on 8 August 2024, successfully raising R1,5 billion. Brait offered 2,542,372,881 shares at R0.59 per share. The rights offer was fully subscribed, after taking into account excess applications received, and as a result the underwriter was not required to subscribe for shares. The proceeds will be used for general working capital purposes, potential investment in existing portfolio companies and the repayment of debt. Following the implementation of the offer, the number of Brait ordinary shares in issue has increased from 1,32 billion to 3,86 billion.

Sirius Real Estate has purchased 900,284 shares in the open market at an average price of £0.931 per share on the LSE and R22.49 per share on the JSE. The shares were purchased in terms of its Dividend Reinvestment Plan (DRIP).

Trustco will seek shareholder approval for the consolidation of its shares at a ratio of 20:1. The consolidation of shares coincides with the ADR ratio of 1:20 and will ensure alignment between the ADR and the JSE trading platforms. After the consolidation, there will be 49,361,929 ordinary shares in issue.

Several companies announced the repurchase of shares:

In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 531,959 shares at an average price of £27.92 per share for an aggregate £14,85 million.

In terms of its US$5 million general share repurchase programme announced in March 2024, Tharisa has repurchased a further 24,933 ordinary shares on the JSE at an average price of R18.82 per share and 370,521 ordinary shares on the LSE at an average price of 79.12 pence. The shares were repurchased during the period 5 – 8 August 2024.

Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 5 – 9 August 2024, a further 3,828,107 Prosus shares were repurchased for an aggregate €119,58 million and a further 300,491 Naspers shares for a total consideration of R1,04 billion.

Seven companies issued profit warnings this week: Gold Fields, Exxaro Resources, Aveng, Super Group, Italtile, Sasol and Northam Platinum.

Three companies either issued or withdrew cautionary notices this week: Cilo Cybin, Tongaat Hulett and Brikor.

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