Subsequent to the company’s financial year-end, Bidvest has sold 19,618,825 Adcock Ingram shares and a portion of its investment in Strait Access Technologies. The Group’s shareholding in Adcock dropped from 64.25% to 51%. The R1,8 billion proceeds from the disposals was used to further reduce debt.

A condition precedent to the completion of the merger of Anglo American and Teck Resources was that Anglo declare a special dividend on its ordinary shares in the amount of c.US$4,5 billion. Under the terms of the agreement, the special dividend was to be paid within 30 days of the merger’s effective date, but the parties have now agreed it will be paid within 45 days of the effective date.

Shuka Minerals agreed to the assignment of c.£800,000 of its Gathoni Muchai Investments (GMI) Convertible Loan to four local strategic investors. The restructuring reduces the company’s immediate debt burden and brings in long-term capital backing for its flagship asset. The investors have elected to convert the £796,439 loan into to 19,910,977 new ordinary shares at a conversion price of £0.04 per share – reflecting a 20% premium over the closing price of £0.034 per share on 28 August 2026. RAB Capital has also indicated its intention to convert the £400,000 loan into to 10,491,200 new ordinary shares at a conversion price of £0.04 per share. Following these transactions the outstanding GMI loan will be reduced to £160,000.

Capitec will take a secondary listing on A2X on 7 September 2026. The additional listing is expected to broaden investor access to Capitec’s ordinary shares and also improve the liquidity of the company’s stock.

Cilo Cybin warned shareholders in mid-August that it would not be able to publish its audited annual financial statements for the year ended 31 March 2026 by 28 August. This week the company again reassured its stakeholders that the delay was administrative and technical in nature and not the result of any material issues identified in relation to the company’s financial position.

This week the following companies announced the repurchase of shares:

South32’s extended repurchase programme commenced in September 2026. The company will in total acquire up to 4,49 billion shares with a proposed buyback end date of 10 September 2027. This week the company repurchased 790,096 shares for an aggregate A$4,09 million.

Aimia repurchased and settled for cancellation a total of 97,150 of its common shares in the month of August 2026. The shares were repurchased at an average price of $2.72 per share for a total settlement of $264,322.

Aspen Pharmacare has repurchased 13,3 million shares at an average price of R148.17 per share for a total R1,98 billion. The shares were acquired over the period 29 May to 31 August 2026.

Reinet Investments commenced its proposed 7th share buyback programme, for up to an aggregate maximum amount of €250 million subject to a maximum of 8 million ordinary shares over a period commencing 18 August 2026 and ending on 15 December 2026 at the latest. The shares will not be cancelled. During the period 24 to 28 August 2026, the company repurchased 588,086 shares for an aggregate R255,64 million.

In June 2026, Greencoat Renewables announced its intention to commence a second tranche of the repurchase programme to return a further €25 million of capital to shareholders. The second tranche repurchase will be complete by end-December 2026. This week 385,438 shares were repurchased for an aggregate €303,697.

Bytes Technology announced in May 2026 its intention to implement a new share repurchase programme to purchase the company’s shares for an aggregate value of up to £25,0 million. This week the company repurchased 250,000 shares at an average price per share of £4.16 for an aggregate £1,04 million.

British American Tobacco has again extended its share buyback to end on 12 October 2026. All shares repurchased will be cancelled. Over the period 24 to 28 August 2026, the company repurchased a further 555,000 shares at an average price of £41.60 per share for an aggregate £23,08 million.

Anheuser-Busch InBev’s US$6 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. Over the period 24 to 28 August 2026, the group repurchased 753,175 shares for €51,16 million.

During the period 24to 28 August 2026, Prosus repurchased a further 1,874,394 Prosus shares for an aggregate €71,03 million and Naspers, a further 647,039 Naspers shares for a total consideration of R498,67 million.

Two companies issued profit warnings this week: Bell Equipment and Old Mutual.

Two companies announced, renewed or withdrew cautionary notices: Crookes Brothers and ArcelorMittal South Africa.

DealMakers is SA’s M&A publication.
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