OUTsurance (OGL) has issued 388,661 shares to shareholders holding 890,130 OUTsurance Holding (OHL) shares valued at R28,15 million. This increases OGL’s stake in OHL to 92.78% with the remaining 7.22% stake held by directors and management.

Tiger Brands has given R4,4 billion to shareholders by way of a final special dividend of R27.10 per share, declared out of income reserves. This, together with the interim special dividend of R12.16 per share, bring the total special dividend for the year to R39.26 per share.

Investec ltd has, in line with its share purchase and buy-back programme of up to R2,5 billion (£100 million), announced further transactions. Over the period 20 – 25 November 2025, Investec ltd purchased on the LSE, 804,882 Investec plc ordinary share at an average price of £5.4409 per share and 485,811 Investec plc shares on the JSE at an average price of R123.7518 per share. Over the same period Investec ltd repurchased 3321,635 of its own shares at an average price per share of R123.7917. The Investec ltd shares will be cancelled, and the Investec plc shares will be treated as if they were treasury shares in the consolidated annual financial statements of the Investec Group.

Africa Bitcoin commenced trading in the US on the OTCQB Venture Market on 26 November 2025. This provides investors globally with an additional channel to access the shares. Trading on this platform has no foreign share register, no depositary receipt structure and no offshore custodial arrangement. Shares traded in this market remain settled and held within South Africa via the JSE and Strate systems.

Cell C placed 102 million shares, representing one-third of its shares in a pre-listing private placement raising R2,7 billion with shares priced at R26.50, below the price range of R29.50 to R35.50 per share in the pre-listing document. The company listed 340 million shares in the Telecommunications Services sector on the Main Board of the JSE on 27 November, with share price closing the day R27.50, giving the company a market capitalisation of R9,3 billion. This compares with MTN (R301,5 billion) Vodacom (R285,1 billion) and Telkom (R25,7 billion).

As set out in the Optasia pre-listing statement Standard Bank, as stabilisation manager, was required to sell up to an additional 44,665,332 shares representing (at the Offer Price) an aggregate amount of R849 million, in connection with any stabilisation potentially required to support the market price of the shares to the extent it fell below the Offer Price during the Stabilisation Period. A total of 8,852, 556 shares, comprising 19.82% of the Overallotment Option, have been purchased which will be distributed to the overallotment shareholders.

This week the following companies announced the repurchase of shares:

In October 2025, Tsogo Sun commenced with a share buy-back programme and has acquired 9 million shares to the value of R59,7 million. The repurchased shares have been cancelled and delisted.

In May 2025 Tharisa announced it would undertake a repurchase programme of up to US$5 million. Shares have been trading at a significant discount, having been negatively impacted by the global commodity pricing environment, geo-political events and market volatility. Over the period 17 to 21 November 2025, the company repurchased 10,400 shares at an average price of R21.66 on the JSE and 313,375 shares at 95.84 pence per share on the LSE.

In October 2024, Anheuser-Busch InBev announced a US$2 billion share buy-back programme to be executed within the next 12 months which will result in the repurchase of c.31,7 million shares. The shares acquired will be kept as treasury shares to fulfil future share delivery commitments under the group’s stock ownership plans. During the period 17 to 21 November 2025, the group repurchased 697,413 shares for €37,11 million.

On 19 February 2025, Glencore announced the commencement of a new US$1 billion share buyback programme, with the intended completion by the time of the Group’s interim results announcement in August 2025. This week the company repurchased 9,600,000 shares at an average price per share of £3.57 for an aggregate £34,32 million.

South32 continued with its US$200 million repurchase programme announced in August 2024. The shares will be repurchased over the period 12 September 2025 to 11 September 2026. This week 1,666,634 shares were repurchased for an aggregate cost of A$5,25 million.

The purpose of Bytes Technology’s share repurchase programme, of up to a maximum aggregate consideration of £25 million, is to reduce Bytes’ share capital. This week 222,215 shares were repurchased at an average price per share of £3.43 for an aggregate £761,359.

In May 2025, British American Tobacco extended its share buyback programme by a further £200 million, taking the total amount to be repurchased by 31 December 2025 to £1,1 billion. The extended programme is being funded using the net proceeds of the block trade of shares in ITC to institutional investors. This week the company repurchased a further 629,180 shares at an average price of £42.40 per share for an aggregate £26,66 million.

During the period 17 to 21 November 2025, Prosus repurchased a further 1,069,070 Prosus shares for an aggregate €69 million and Naspers, a further 413,705 Naspers shares for a total consideration of R494,1 million.

Eight companies issued a profit warning this week: Spar, Cilo Cybin, Copper 360, Novus, Mantengu, Trematon Capital Investments, Nutun and Accelerate Property Fund.

Five companies issued or withdrew a cautionary notice: Ascendis Health, Trustco, MTN Zakhele Futhi (RF), Mantengu and Labat Africa.

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