Libstar has exercised its option to repurchase 73,049,783 shares from the special purpose vehicles – Business Venture Investments No 2071 and Business Venture Investments No 2072 owned by the Libstar Employee Share Trust. The option became exercisable on the scheme’s seventh anniversary. The repurchased shares have reverted to authorised but unissued shares of the company.

The category 1 transaction announced by eMedia in June this year involved the subscription by Venfin (Remgro) of 18,3 million EMH N shares, the disposal by Venfin of about 17,7 million ordinary shares it owned in EMI, post the subscription, to EMH in exchange for 220,1 million EMH N shares. This resulted in giving eMedia control of the entity EMI that holds its stake in e.tv., eNCA, OpenView and Yfm. As per the transaction agreement, Remgro has now unbundled to shareholders by way of a distribution in specie, its 35% stake in EMH, creating a significantly larger percentage of the EMH N shares now in the hands of public shareholders.

Copper 360 intends to raise new equity of R400 million from existing shareholders at a price of 50 cents per share, underwritten by Differential Capital, in the amount of R260 million. In addition, the company will undertake a debt restructure with the conversion of long-term debt instruments on its balance sheet and the reduction of revenue-based royalty payments. The debt conversion will result in the issue of a maximum of 1,5 billion new ordinary shares issued in terms of the rights offer.

Last week Dipula Properties launched an equity raise of c.R500 million, implemented through an accelerated bookbuild process to fund acquisitions, which will include the Protea Gardens Mall in Soweto, announced on 19 August 2025 for R478,1 million. The bookbuild raised R559 million with 102,946,593 new ordinary shares placed at an issue price of R5.43 per share. The issue price represents a discount of 4.23% to the closing price prior to announcement and a discount of 4.86% to the 30-day VWAP.

Altvest Capital has launched an equity capital raise through the allotment and issue of 1 million shares at R11.00 per share. Having formally adopted the Bitcoin Treasury Strategy, the company now proposes to change the company name to The Africa Bitcoin Corporation, subject to shareholder approval. The name change is expected to take effect from 12 November 2025.

PBT Group is to change its name to PBT Holdings to better reflect its entire service offering – providing services via three core brands, PBT Technology Services, PBT Insurance Technologies and CyberPro Consulting. Shareholders will need to vote on this and will trading under the new name from 12 November 2025.

Pan African Resources is to apply to move the trading of its shares from AIM to the main market of the LSE. Management believes that the proposed move to the Main Market could enhance the company’s corporate profile and broaden its access to a wider pool of UK and global investors thereby supporting its next phase of growth.

The revised offer by Primary Health Properties (PHP) of Assura closed on 10 September. On 11 September PHP listed a further 44,845,540 new PHP shares in terms of the scheme. Following the successful acquisition the trading of Assura shares on the Main Board of the JSE is expected to be suspended on 3 October 2025.

Cilo Cybin previously indicated that the expected date of transfer of the company to the Main Board was Friday, 26 September 2025. The revised expected date of transfer is now Monday, 29 September 2025.

This week the following companies announced the repurchase of shares:

The Board of Old Mutual has approved a share buyback of up to R3 billion subject to prevailing market conditions. The buyback will proceed while the share price reflects a level that is considered accretive to shareholder value.

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 691,649,215 shares were repurchased for an aggregate cost of A$4,30 million.

On March 6, 2025, Ninety One plc announced that it would undertake a repurchase programme of up to £30 million. The shares will be purchased on the open market and cancelled to reduce the Company’s ordinary share capital. This week the company repurchased a further 170,951 ordinary shares at an average price of 188 pence for an aggregate £321,528.

Investec ltd commenced its share purchase and buy-back programme of up to R2,5 billion (£100 million). Over the period 3 to 9 September 2025, Investec ltd purchased on the LSE, 8,60,871 Investec plc ordinary share at an average price of £5.5219 per share and 1,237,210 Investec plc shares on the JSE at an average price of R131.2998 per share. Over the same period Investec ltd repurchased 546,340 of its shares at an average price per share of R131.5593. 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.

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 227,893 shares were repurchased at an average price per share of £4.10 for an aggregate £929,881.

Glencore plc’s 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 10,951,423 million shares were repurchased at an average price of £2.89 per share for an aggregate £31,66 million.

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 1 to 5 September 2025, the company repurchased 5,438 shares at an average price of R21.80 on the JSE and 148,499 shares at 92.2 pence per share on the LSE.

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 being funded using the net proceeds of the block trade of shares in ITC to institutional investors. This week the company repurchased a further 602,401 shares at an average price of £41.38 per share for an aggregate £24,93 million.

During the period 1 to 5 September 2025, Prosus repurchased a further 1,183,810 Prosus shares for an aggregate €61,66 million and Naspers, a further 98,781 Naspers shares for a total consideration of R564,4 million.

During the week four companies issued or withdrew a cautionary notice: Copper 360, Tongaat Hulett, PSV and Mantengu.

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