Astral has disposed of its minority 9.8% stake in Quantum Foods for an aggregate consideration of R141,7 million. The transaction, executed through a book over, was acquired by Country Bird at R7.25 per share – a 70% premium to the current market value.
Heriot Properties, a wholly-owned subsidiary of Heriot REIT, has acquired an additional 807 069 Safari Investments RSA shares from Reya Gola for a purchase consideration of R5.60 per share and an aggregate purchase consideration of R4,5 million. The purchase was executed by way of a cash settled on-market block trade on the JSE. Following the acquisition, Heriot Properties and its concert parties (excluding Reya Gola) will hold a 58.8% stake in Safari.
Lighthouse Properties has disposed of, on the open market, 164,973,138 Hammerson shares for an aggregate cash consideration of R1,02 billion.
Certain parties to loan contracts with Mantengu Mining have agreed to convert their debt claims against the company into equity at a rate of R1.50 of debt per Mantengu Mining share. The rate is a 93.58% premium to the 30-day VWAP prior to the date on which the settlement was agreed (29 February 2024).
Kibo Energy has announced the issue of 81,081,081 ordinary shares at an issue price of 0.00037 pence per share to a service provider in payment of outstanding invoices for a total value of £30,000.
Jubilee Metals has issued 9 million shares at an average price of 2.11 pence per option share following the exercise by an option holder. After the issue, the company will have 2,983,493,617 ordinary shares in issue.
A number of companies announced the repurchase of shares.
Brimstone Investment has, since its December year-end, repurchased 1,5 million ‘N’ shares for an aggregate R7,2 million.
Curro has repurchased an aggregate 21,201,450 shares during the period 15 June 2023 to 6 March 2024. The shares were repurchased at an average price per share of R9.97 for an aggregate purchase consideration of R21,2 million.
Invicta has concluded an intra-group repurchase with Humulani Marketing, a wholly-owned subsidiary of the company, in terms of which it acquired 762,492 shares from Humulani at a repurchase price of R26.92 per share. The shares will be held by Invicta in treasury.
The price for Adcorp’s odd-lot offer has been finalised. Those shareholders accepting the offer will receive R4.01 per share which represents a 5% premium to the 30-day VWAP at the close of business on 4 March 2024.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 26 February to 1 March 2024, a further 3,804,685 Prosus shares were repurchased for an aggregate €104,12 million and a further 268,583 Naspers shares, for a total consideration of R861,13 million.
AB InBev has repurchased a further 850,371 shares at an average price of €56.60 per share for an aggregate €48,13 million. The shares were repurchased over the period 26 February to 1 March 2024.
In August 2022 the trading of Afristrat Investment’s shares were suspended on the JSE. Since then, the company has been unable to make additional progress with regards to its restructuring initiative process due to its suspension and liquidation application. In its announcement, the company noted that as at 1 March 2023 it was unable to pay its debt and did not meet the solvency and liquidity test as required by the JSE. As a result, the company was commercially insolvent and would proceed with a liquidation application.
Three companies issued profit warnings this week: MTN, Exxaro Resources and OUTsurance.
Two companies either issued, renewed, or withdrew cautionary notices this week: MultiChoice and Astoria Investment.
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