In a move to further increase its exposure to SA Corporate Real Estate (SAC), Castleview Property Fund acquired 125,252,618 SAC shares at an average purchase price of R2.80 per share for an aggregate consideration of R350,71 million. Following the conclusion of the latest transaction, Castleview holds a 21.13% stake in SAC.

OUTsurance is to pay a special dividend of 33.1 cents per ordinary share payable on October 20, 2025.

Fortress Real Estate Investments is offering shareholders the opportunity to elect to receive a dividend in specie of ordinary shares in NEPI Rockcastle (NRP) in respect of all or some of their Fortress B shares in lieu of the cash dividend. Fortress currently holds 108,292,699 NRP shares constituting 15.2% of the total issued shares capital of NRP. Publication of the results of the dividend in specie will be announced on 21 October 2025.

Naspers has finalised the dates in respect of the amendments to its existing share capital structure through the pro rata subdivision of the N ordinary shares and A ordinary shares. The subdivision will be effected in the ratio of five-for-one for reach respective class of issued shares. After the split there will be 7,5 million authorised A shares and 1,5 billion Ordinary shares. Naspers will suspend its repurchase programme temporarily from 25 September to 2 October 2025 with the subdivision effective and implemented on 6 October 2025.

Altvest Capital’s name change to Africa Bitcoin Corporation has been registered by CIPC and will trade under the new name from 23 September 2025.

Assura shares will be suspended on the JSE from 3 October 2025 and the company’s listing on the LSE and JSE will terminate on 3 and 23 October 2025 respectively.

The JSE has advised shareholders that Labat Africa has failed to submit its condensed financial statements withing the three-month period stipulated in the JSE’s Listing Requirements and risks the threat of suspension if these are not submitted on or before 30 September 2025.

This week the following companies announced the repurchase of shares:

Over the periods 12 March to 9 May and 23 July to 16 September 2025, Tiger Brands repurchased 5,420,969 shares representing a 3% stake in the issued share capital of the company. The shares were repurchased at an average price of R278.61 per share for an aggregate R1,51 billion, funded from available cash resources. The shares will be delisted and cancelled. The company may repurchase a further 6.994% (12,6 million shares) of its shares under the general authority granted at its AGM.

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 794,183 shares were repurchased for an aggregate cost of A$2,09 million.

Momentum repurchased a total of 44 million shares at an average price of R31.43 per share during the financial year to end June 2025 for an aggregate cost of R1,4 billion. 42 million shares were cancelled prior to year-end. The Board has approved a further R1 billion for the buyback programme subject to Prudential Authority approval.

Investec ltd commenced its share purchase and buy-back programme of up to R2,5 billion (£100 million). On 10 September 2025, Investec ltd purchased on the LSE, 163,676 Investec plc ordinary share at an average price of £5.8099 per share and 108,844 Investec plc shares on the JSE at an average price of R137.3015 per share. Over the same period Investec ltd repurchased 31,207 of its shares at an average price per share of R136.7294. 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 600,000 shares were repurchased at an average price per share of £4.11 for an aggregate £2,47 million.

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 9,3 million shares were repurchased at an average price of £2.99 per share for an aggregate £27,77 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 8 to 12 September 2025, the company repurchased 20,195 shares at an average price of R21.85 on the JSE and 242,308 shares at 92.51 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 483,542 shares at an average price of £41.25 per share for an aggregate £19,94 million.

During the period 8 to 12 September 2025, Prosus repurchased a further 1,217,622 Prosus shares for an aggregate €65,6 million and Naspers, a further 98,011 Naspers shares for a total consideration of R570,23 million.

Two companies issued profit warnings this week: Oceana and Choppies Enterprises.

During the week four companies issued or withdrew a cautionary notice: Ascendis Health, Libstar, Metrofile and Vunani.

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