29 July 2019

Omnia’s shareholders back recapitalisation plan

Almost all votes cast at last week’s general meeting were in favour of issuing new shares as the group grapples with high debt.

Rolfes cautionary stokes speculation

Its shares are worth less than half their value of two years ago despite the positive effects of a restructuring.

Brimstone finds new investors for Clover buyout

The empowerment group expects to incur once-off costs running into the millions following its decision to withdraw from the transaction.

Stefanutti keeps the wolf from the door

The construction group has raised R120 million of ring-fenced project capital as part of a larger funding plan.

TeleMasters declares dividend despite earnings plunge

The telecommunications solutions company has declared a 1.5c per share dividend although its 2019 earnings have tumbled more than 90%.

26 July 2019

Anglo American's billion dollar buyback

The group says the buyback recognises the resilience of its position and builds upon the $3.4 billion returned to shareholders since mid-2017.

Sasol update ends shares lower

Despite a higher rand-oil price, the group will report a fall in full-year earnings after writing own its assets by R18.1 billion.

Kumba - Where to from here?

Interestingly, in 2016, Anglo American changed its mind about disposing of its large stake in Kumba. There must be good reason for that so does that...

Who’s doing what this week in the South African M&A space?

Weekly summary of M&A activity by South African companies

Who’s doing what in the African M&A space?

Weekly summary of all M&A activity from across Africa (excluding South Africa)

Frothy quarter for AB InBev

The brewer had its best quarterly beer sales in over five years in the three months to end-June.

Capco to proceed with demerger

The London property owner plans to list Covent Garden as a separate REIT while it mulls expressions of interest in Earls Court.

Vodacom buoyed by International business

The mobile network operator anticipated slower growth in SA due to new data regulations, price cuts and the weak economy.

Alex Forbes sells insurance business to Momentum Metropolitan

The R1.94 billion disposal forms part of its strategy to focus on its employee benefits business.

Weekly corporate finance activity by SA exchange-listed companies

Weekly summary of corporate finance activity by South African exchange listed companies

Thorts - Flirting before the offer: The Intricacies of Approaching Shareholders

It makes sense for potential offerors to be able to engage with material shareholders in a target before an offer is formally launched.

25 July 2019

AECI looks beyond earnings dip

The chemicals and explosives group expects the benefits of realignment projects to outweigh the costs in the second half of its financial year.

Weak economy dents AVI’s earnings

The branded consumer goods group says the difficult trading environment has limited sales growth.

Mpact rolls out strong first half

The paper and packaging group says underlying earnings rose by up to a third, supported by its containerboard operations.

Metair’s earnings accelerate

The automotive components and energy storage business has flagged a rise of as much as 23% in first-half earnings.

Vunani heads for A2X

The black-owned financial services group plans to list on A2X markets at the end of the month as it progresses to the JSE’s Main Board.

Ellies swings back to a loss

The electronics group says impairments, increased provisions and legal fees have pushed it into the red.

24 July 2019

Kumba's dividend windfall

The iron ore producer has raised its payout ratio due to its strong cash position.

Bond investors take up Implats offer

Close to 100% of the bondholders have accepted, or indicated their interest in, an early offer to convert their bonds to equity.

Tobacco weighs on Reinet’s value

The investment group has reported a decline in its net asset value due to continued pressure on the share price of British American Tobacco.

Mondi flags higher earnings

The trading statement came ahead of the suspension of Mondi Ltd shares as the group starts operating under a single holding company.

RBPlat’s losses increase as Styldrift ramps up

The platinum producer has warned of bigger first-half losses despite record production.

Astoria’s NAV falls after asset sales

The investment group has disposed of most of its listed investments as it returns capital to shareholders.

23 July 2019

Amplats triples dividend as planets align

Following a strong first-half, the platinum producer says there are further opportunities to unlock full potential from its operations.

Takeover bid may scupper Fairvest's Safari plan

Shareholders holding 55.7% of Safari have agreed to support a R1.83 billion buyout instead of a merger with Fairvest Properties.

Cashbuild reports a better final quarter

Fourth quarter sales at the building materials retailer have help support an otherwise tough year.

Power Of Saving

South Africans, however, are notoriously bad at saving. The Investec GIBS Savings Index ranks South Africa last out of the G20 countries in terms of its...

The Week Ahead of 22 July 2019

The US economy is heavily reliant on the consumer for sustained growth

Transcend plans to offload Midrand units

The residential property fund says the 225 units at Midrand Village do not fit the typical profile of properties it includes in its portfolio.

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