Following the resolution of the Tax Matter and the reversal of the tax provision of R794 million provided for in Coronation Fund Managers’ financial accounts, the company has declared a non-recurring gross special dividend of 153 cents per ordinary share returning R534 million to shareholders.

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 446,617 shares at an average price of £27.78 per share for an aggregate £12,41 million.

In terms of its US$5 million general share repurchase programme announced in March 2024, Tharisa has repurchased a further 15,896 ordinary shares on the JSE at an average price of R18.99 per share and 128,016 ordinary shares on the LSE at an average price of 80.92 pence. The shares were repurchased during the period 12 – 16 August 2024.

Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 12 – 16 August 2024, a further 3,465,763 Prosus shares were repurchased for an aggregate €114,18 million and a further 291,595 Naspers shares for a total consideration of R1,07 billion.

Four companies issued profit warnings this week: Master Drilling, KAP, Randgold & Exploration and Cashbuild.

Five companies issued cautionary notices this week: TeleMasters, Trematon Capital Investments, PSV, Barloworld and MAS.

DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com