Life Healthcare has declared a gross special dividend of 600 cents per ordinary share. The dividend is payable from income reserves and is the distribution of the net proceeds received following the disposal of the Group’s interest in Alliance Medical Group. Payment date is expected on 8 April 2024.
Trustco reminded shareholders in its cautionary announcement that the company is in the process of concluding several pivotal transactions with key shareholders. There is a planned equity investment in the amount of c. N$950 million by Riskowitz Value Fund by way of a fresh issue of Trustco shares to RVF. In addition, Trustco is also considering increasing its equity stake in Legal Shield to 91.35% by acquiring 11.35% from RVF. To top this off, the company is also considering a Rights Offer to minority shareholders – so to enable them the opportunity to participate in the company’s growth and to minimise the dilutionary effect.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 19 – 23 February 2024, a further 3,510,037 Prosus shares were repurchased for an aggregate €99,24 million and a further 237,724 Naspers shares, for a total consideration of R780,48 million.
AB InBev has repurchased a further 224,067 shares at an average price of €58.37 per share for an aggregate €13,08 million. The shares were repurchased over the period 19 – 23 February 2024.
Santova has advised that it has applied to the JSE for the cancellation of 4,328,877 shares which were repurchased by the company at an average price of 743,50 cents per share. Following the cancellation of the Treasury Shares, the share capital of the company will comprise 129,609,951 ordinary shares of no par value.
Collins Property Group was granted REIT status by the JSE with effect from 21 December 2023. The company’s shares will now be transferred from the Real Estate Holding and Development subsector to the Industrial REITs’ subsector with effect from the commencement of trade on 18 March 2024.
Six companies issued profit warnings this week: Mustek, Thungela Resources, Ellies, Putprop, African Rainbow Minerals and Murray & Roberts.
Five companies either issued, renewed, or withdrew cautionary notices this week: Afristrat Investment, Salungano, Trustco, Chrometco and PSV.
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