In a move to further increase its exposure to SA Corporate Real Estate (SAC), Castleview Property Fund acquired 106,178,769 SAC shares at an average purchase price of R3.00 per share for an aggregate consideration of R318,8 million. The purchase was executed by way of on-market block trades on the JSE.

Ibex (formerly Steinhoff International) has reduced its stake in Pepkor, from a shareholding of 28.48% in the clothing retailer to 0.19% in an on-market transaction valued at c.$1,6 billion.

Datatec will issue 3,314,968 shares to shareholders receiving the scrip dividend option in lieu of a final cash dividend, resulting in a capitalisation of the distributable retained profits in the company of R206,52 million.

In terms of its scrip dividend option to shareholders, Castleview Property Fund will issue 3,101,817 new shares in lieu of a final cash dividend, retaining R29,59 million in new equity for Castleview.

This week the following companies announced the repurchase of shares:

Over the period 26 June to 4 July 2025 Argent Industrial repurchased 578,504 shares for an aggregate value of R15,65 million. The shares were delisted and cancelled on 17 July 2025 – no ordinary shares are held in treasury. The company is entitled to repurchase a further 10,3 million shares in terms of the general authority granted by shareholders.

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 14 to 18 July 2025, the company repurchased 21,516 shares at an average price of R21.43 on the JSE and 557,550 shares at 89.78 pence per share on the LSE.

Glencore plc current share buy-back programme plans 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 4,500,000 shares were repurchased at an average price of £3.15 per share for an aggregate £14,17 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 199,794 shares at an average price per share of 295 pence for an aggregate £587,341.

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 744,091 shares at an average price of £38.33 per share for an aggregate £28,52 million.

During the period 14 to 18 July 2025, Prosus repurchased a further 2,088,768 Prosus shares for an aggregate €101,97 million and Naspers, a further 154,340 Naspers shares for a total consideration of R853,43 million.

One company issued a profit warning this week: Valterra Platinum.

During the week five companies issued or withdrew cautionary notices: Accelerate Property Fund, Adcock Ingram, Metrofile, Spear REIT and Trustco.

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