In connection with the continued implementation of its repurchase programme, Prosus has sold 371,000 Tencent shares, reducing its shareholding to 22.996%.
On 28 July 2025 MTN Zakhele Futhi will distribute R2,47 billion to shareholders in the form of a special distribution of R20 per share as part of the structure unwind. The amount of the residual NAV will depend on the price at which the remaining 2,48 million MTN ordinary shares held will be disposed of in the market. Thereafter, MTNZF will delist from the JSE.
Following the announcement in May by Accelerate Property Fund (APF) of a proposed rights offer to raise R100 million, the offer opened this week. The capital raise is underwritten, and proceeds will be used in restructuring efforts with a focus on Fourways Mall, APF’s largest asset.
Assura shareholders will receive a special dividend of up to a maximum of 0.84 pence per Assura share in lieu of and representing an acceleration of the quarterly interim dividend otherwise expected to be paid during October 2025. There will be no scrip dividend alternative and Primary Health Properties previously confirmed that the special dividend will not reduce the value of its revised offer. Payment will be made on 26 August 2025.
The JSE has notified shareholders of African Dawn Capital and Efora Energy that these companies have failed to publish their financial statements for the year-ending 28 February 2025 within the prescribed period stipulated by the JSE Listing Requirements. As a result, the listings have been suspended with immediate effect.
The voluntary winding-up of Trencor is in the final stages and shareholders are advised that the company’s shares will be suspended on the JSE from 30 July 2025 and its listing terminated on 5 August 2025. The special dividend of 90 cents per share (from remaining cash resources) will be distributed to shareholders on 1 August 2025.
Name changes – this week three companies released updates:
Subject to shareholder approval, the Board of Blue Label Telecoms has proposed to change the company’s name to Blu Label Unlimited. The company is undergoing a restructuring process which will see the separation of its telecoms and non-telecoms business units. The company will however remain listed in the Telecoms sector of the JSE. Shareholders will vote on the change on 11 August 2025.
Mantengu Mining aims to drop Mining from its name believing it is misleading and does not accurately reflect the current investments held by the company nor its prospective investment philosophy. Shareholders will be asked to approve the name change at the Annual General Meeting on 21 August 2025.
HomeChoice International will trade as Weaver Fintech from 23 July 2025. The growth of the group’s fintech business is such that it is now the primary driver of group performance and profit before tax. The new name better represents the core operations.
This week the following companies announced the repurchase of shares:
In May 2025 Tharisa plc 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 7 to 11 July 2025, the company repurchased 40,496 shares at an average price of R20.6475 on the JSE and 260,443 shares at 85 pence per share on the LSE.
Glencore plc will undertake a further share buy-back programme to acquire shares of an aggregate value of up to US$1 billion. The shares will be repurchased on the LSE, BATS, Chi-X and Aquis exchanges and is expected to be completed in February 2026. This week 5,400,000 shares were repurchased at an average price of £3.11 per share for an aggregate £13,98 million.
Hammerson plc continued with its programme to purchase its ordinary shares up to a maximum consideration of £140 million. The sole purpose of the buyback programme is to reduce the company’s share capital. This week the company repurchased 199,917 shares at an average price per share of 289 pence for an aggregate £579,430.
In May 2025, British American Tobacco plc 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 to be funded using the net proceeds of the block trade of shares in ITC to institutional investors. This week the company repurchased a further 488,397 shares at an average price of £37.77 per share for an aggregate £18,47 million.
During the period 7 to 11 July 2025, Prosus repurchased a further 1,882,892 Prosus shares for an aggregate €89,86 million and Naspers, a further 144,996 Naspers shares for a total consideration of R796,34 million.
Two companies issued profit warnings this week: ArcelorMittal South Africa and Mpact.
During the week three companies issued or withdrew cautionary notices: Conduit Capital, Labat Africa and Acsion.
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