Remgro has completed an accelerated bookbuild offering of 122,908,061 Momentum Metropolitan shares raising aggregate proceeds of R2,7 billion. The shares were placed at a price of R22.00 per share representing a 7.6% discount to the closing price of R23.82 on 18 June 2024 and a 0.3% premium to the 30-day VWAP average price of R21.93. The placement represents 8.9% of the total issued ordinary shares of Momentum. Remgro no longer holds any ordinary shares in the company.
MTN Uganda attained the 20% minimum public float required in terms of the Uganda Securities Exchange, with MTN successfully placing 1,57 billion MTN Uganda shares at UGX 170 per share (UGX 267 billion/R1,29 billion) to institutional investors. The offer was 2.3 times oversubscribed with 3 billion shares applied for by 20,636 shareholders.
Lighthouse Properties has, on the open market, disposed of a further 109,103,790 Hammerson plc shares for an aggregate cash consideration of R718,48 million.
As part of the restructuring of its existing debt, Kibo Energy plc will issue a further 3,400,000,000 shares in the company to raise £340,000. Shard Capital Partners subscribed for £240,000 worth of shares with the remaining raised through two private subscriptions of £50,000 each.
The JSE has advised that the following companies, Acsion, African Dawn Capital, Sable Exploration and Mining, Visual International and Vunani have failed to submit their Annual Financial Statements (AFS) within the three-month period as stipulated in the JSE’s Listing Requirements. If the companies fail to submit their AFS on or before 30 June 2024, then their listings may be suspended.
Afristrat Investment’s listing will be removed from the Main Board of the JSE following its suspension in August 2022. The company has failed to take adequate action to enable the JSE to reinstate the listing. Accordingly, the last day to trade (off market) in the company’s shares will be 25 June. The listing will be removed on 1 July 2024.
A number of companies announced the repurchase of shares:
In line with its share buyback programme announced in March, British American Tobacco this week repurchased a further 210,994 shares at an average price of £24.05 per share for an aggregate £5,1 million.
Prosus and Naspers continued with their open-ended share repurchase programmes. During the period 10 – 14 June 2024, a further 3,225,887 Prosus shares were repurchased for an aggregate €110 million and a further 236,125 Naspers shares for a total consideration of R904 million.
Two companies issued profit warnings this week: Thungela Resources and Nampak.
Two companies issued cautionary notices this week: Choppies Enterprises and Coronation Fund Managers.
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