MC Mining has concluded its fully underwritten renounceable rights offer. The company raised A$40 million with the sub-underwriters taking up the shortfall of 200,026,719 shares.
Buffalo Coal has announced a rights offering. If all rights are exercised, an additional 421,352,596 shares will be issued. The company intends to use the net proceeds to settle its debt with Investec.
Hyprop Investments will issue 16,127,649 new shares in terms of its scrip distribution alternative resulting in a capitalisation of distributable retained profits of R500 million.
New listings on A2X continues to gain ground with Attacq joining its growing list of companies taking secondary listings on its platform. Attacq shares will commence trading on November 16, 2022.
The trading of Trustco shares has been suspended on the JSE following the ruling by the High Court which dismissed the company’s application with costs. The ruling reinstates the JSE’s decision in November 2020 to suspend the company’s shares for failing to comply with the Listing Requirements in relation to its Annual Financial Statements.
A number of companies listed on one of South Africa’s Stock Exchanges have initiated share buyback programmes and each week update shareholders. They are:
Capital & Counties Properties has repurchased 783,854 shares for a total consideration of £857,933 in accordance with the authority granted by shareholders at its annual general meeting in June 2022.
Glencore this week repurchased 17,840,000 shares for a total consideration of £93,71 million. The share repurchases form part of the second phase of the Company’s existing buy-back programme which is expected to be completed by February 2023.
South32 has this week repurchased a further 4,016,123 shares at an aggregate cost of A$14,98 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period October 31 to November 4, a further 5,549,485 Prosus shares were repurchased for an aggregate €261,79 million and a further 507,887 Naspers shares for a total consideration of R997,91 million.
British American Tobacco repurchased a further 555,949 shares this week for a total of £18,67 million. Following the purchase of these shares, the company holds 216,027,057 of its shares in Treasury.
Three companies issued profit warnings this week: Quantum Foods, Invicta and Novus.
Six companies issued or withdrew cautionary notices. The companies were:
Alviva, Murray & Roberts, Ellies, Pembury Lifestyle, Grand Parade Investments and Premier Fishing & Brands.
DealMakers is SA’s M&A publication
www.dealmakerssouthafrica.com
