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11 June 2019
The sugar producer said the decision wasn’t taken lightly and was meant to protect investors as its financial statements couldn’t be trusted.
While earnings have been affected by forex losses and a stake given to its empowerment schemes, its core profit will be as much as 12% higher.
Ethos Private Equity’s Artificial Intelligence Fund has invested in the new digital bank.
The FinTech business is developing new productions and building capacity as it signs on more financial institutions as customers.
The European shopping centre owner will take a secondary listing on the exchange next Tuesday in addition to its JSE and Euronext listings.
Global growth prospects continue to deteriorate
10 June 2019
Investors will receive shares in Sibanye-Stillwater this week following the suspension and delisting of the group’s stock from the JSE and the LSE.
The industrials services group says growth in trading profit lost momentum in the four months to end-April.
The energy company has submitted its feasibility studies to Mozambique’s authorities and is now trying to secure coal supply and power purchase agreements.
The agricultural group has benefited from strong sugar yields and new macadamia orchards coming into production.
07 June 2019
The overreaction to the cost overruns at Sasol’s Lake Charles Chemical Project are correcting as predicted in Ingham Analytics note of last week.
The industrial property investor has trimmed its full-year payout by 16% to 6.75p and will offer a scrip alternative subject to approval.
The natural gas and helium company’s shares rose 27.5% on their Australian debut.
The Namibian investment company expects a big improvement in full-year earnings from its main investment segments.
The platinum and chrome exploration company says its application for a prospecting right over the farm Hartebeesfontein has been accepted.
Weekly summary of M&A activity by South African companies
Weekly summary of all M&A activity from across Africa (excluding South Africa)
Weekly summary of corporate finance activity by South African exchange listed companies
Section 68(3) of the Companies Act empowers a board to appoint an eligible person to serve as a director of a company on a temporary basis.
06 June 2019
Xolani Mkhwanazi’s appointment as chairman follows those of CEO Stephen van Coller and financial director Megan Pydigadu.
Close to 3,500 employees will be affected, with voluntary separation, early retirement and natural attrition accounting for the bulk of the job losses.
The insurer has grown new business and headline earnings despite turbulence in SA and other emerging markets.
The pension funds administrator has been affected by a number of write-offs and the cost of writing off an expensive IT contract.
The company says it’s also progressing with its acquisition of the Sable Zinc refinery in Zambia as it tries to further diversify earnings.
Today I was doing a quick month-end review of my US Share portfolio. Here are my Top five best performers.
05 June 2019
The food producer says its chicken and sugar businesses have weighed on earnings due to imports and the new sugar tax.
The pan-African infrastructure group is now focused on growing its power and energy capabilities across the continent.
The Central and Eastern European property investor aims to grow its distribution by 30% between now and June 2022.
The print and packaging group’s 2018 results were affected by big impairments after Media24 renegotiated a printing contract.
The performance of South Africa's major banks continues to compare favourably to banks in the USA, Canada, and Australia.
The investment group wants to buy back its preference shares as it shifts strategy.