Trustco has issued 4,936,193 shares to an unnamed public shareholder at 36 cents per share – representing the 30-day VWAP of 6 August 2024. The shares, valued at R1,78 million, were issued under the general authority granted to the company by shareholders at the 2023 Annual General Meeting. Following the listing of the new shares Trustco has 992,174,774 shares in issue.

The week was all about the repurchase of shares:

During the period January to end-June 2024, Shoprite has repurchased 215,172 shares at an average price of R229.23 per share for an aggregate R49,5 million. Since the inception of the Group’s share buy-back programme in 2021, a total of 8,6 million shares have been repurchased to the value of R1,6 billion.

In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 433,413 shares at an average price of £28.48 per share for an aggregate £12,34 million.

In terms of its US$5 million general share repurchase programme announced in March 2024, Tharisa has repurchased a further 10,000 ordinary shares on the JSE at an average price of R19.41 per share and 136,570 ordinary shares on the LSE at an average price of 80.78 pence. The shares were repurchased during the period 26 – 30 August 2024.

Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 26 – 30 August 2024, a further 2,246,844 Prosus shares were repurchased for an aggregate €74,56 million and a further 188,720 Naspers shares for a total consideration of R687,18 million.

Two companies issued profit warnings this week: Truworths International and Sibanye Stillwater.

During the week, five companies issued cautionary notices: Finbond, Burstone, The Spar, Conduit Capital and Transaction Capital.

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