Remgro has disposed of 51,966,739 FirstRand shares through on-market transactions at an average price per share of R93.87 for an aggregate consideration of R4,88 billion. The shares were held by Remgro following the unbundling of its strategic indirect interest in FirstRand, historically held through Remgro’s interest in RMB Holdings. Remgro retained a direct exposure of 3.92% in FirstRand which it had previously identified as non-core. Prior to the sell-down, Remgro had decreased this to 1.64%.

AttBid, a vehicle representing Atterbury Property Fund (APF), I Faan and I Dirk, which made an offer to RMH shareholders earlier this month, has acquired in on-market transactions further RMH shares. Following the transactions, AttBid and APF hold 32.77% and 7.29% respectively, resulting in an aggregate of c.40.06% of the RMH shares in issue.

EPE Capital Partners has completed the pro rata repurchase of its A ordinary shares announced in February. The company has returned an aggregate R854,08 million in cash to shareholders by way of a repurchase of 105,44 million Ethos Capital shares. The company now has 150,54 million A ordinary shares in issue – excluding treasury shares.

Jubilee Metals will issue 42,989,418 shares at a price of 4.48 pence per share in respect of the Large Waste Project purchase agreement. Following the instalment, the remaining balance of the consideration is US$5,4 million. The company has also issued 29,761,905 shares to a feed partner in respect of ROM copper secured.

Premier’s acquisition of RFG has become unconditional as of 11 March 2026. RFG’s JSE listing will accordingly terminate on 31 March 2026.

The JSE has obtained approval from the SARB for the payment to shareholders of a special dividend of 100 cents per share.

Oando has announced the delay in the publication of its 2025 audited financial results which it expects to complete before 30 May 2026. Sebata has also advised that it expects the company’s results for the year ended March 2025 to be released by 31 March 2026.

This week the following companies announced the repurchase of shares:

GreenCoat Renewables has implemented a share buyback programme totalling €100 million over 12 months with a first tranche amounting to €25 million beginning on 5 March 2026 – representing 13% of the issued share capital. This week 1,577,288 shares were repurchased for and aggregate €1,15 million.

In 2025 Investec ltd commenced its share purchase and buy-back programme of up to R2,5 billion (£100 million). Over the period 2 – 10 March 2026, Investec ltd purchased on the LSE, 1,355,318 Investec plc ordinary share at an average price of £6.17 per share and 702,303 Investec plc shares on the JSE at an average price of R135.03 per share. Over the same period Investec ltd repurchased 603,704 of its shares at an average price per share of R134.04. 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.

Quilter has announced it will commence a share buyback programme to repurchase shares with a value of up to £100 million in order to reduce the share capital of the company and return capital to shareholders. This week Quilter repurchased 1,018,109 shares on the LSE with an aggregate value of £1,86 million and 518,588 shares on the JSE with an aggregate value of R21,02 million.

Anheuser-Busch InBev’s US$2 billion share buy-back programme continues. 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 2 to 6 March 2026, the group repurchased 410,375 shares for €26,84 million.

In December 2025, British American Tobacco extended its share buyback programme by a further £1.3 billion for 2026. The shares will be cancelled. This week the company repurchased a further 579,420 shares at an average price of £43.65 per share for an aggregate £25,29 million.

During the period 2 to 6 March 2026, Prosus repurchased a further 2,405,007 Prosus shares for an aggregate €100,5 million and Naspers, a further 1,064,589 Naspers shares for a total consideration of R924,77 million.

Two companies issued a profit warning this week: Choppies Enterprises and Putprop.

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