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21 June 2019
Little hope for Group Five shareholders
The construction group’s business rescue practitioners say while creditors may recover their loans, there will be no equity left.
Accelerate pins hopes on Fourways super centre
Despite the negative short-term outlook for local property, the fund expects the extended shopping mall to serve as a catalyst for future opportunities.
Volatile markets pare Peregrine’s earnings
The wealth manager and financial services group earned lower performance fees from Stenham and Peregrine Capital last year.
Insimbi bulks up on recycled metal
The metals and plastics group is expanding its client base and trading network with the acquisition of Gauteng-based Treppo.
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)
Hosken strengthens Cape bus operation
The investment company has taken full ownership of two bus services in the Western Cape.
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies
Thorts - Navigating merger control complexities in Africa
Merger control complexities in Africa can undermine the commercial value of a proposed transaction – below are some of the potential stumbling blocks to doing business...
20 June 2019
Steinhoff narrows its loss as it battles on
The retailer says this year’s sales are likely to be lower due to tough competition and after it sold off some businesses.
Peter Moyo hits back at Old Mutual
The group’s former CEO says it was represented at the board meeting where NMT resolved to pay a further dividend of R105 million.
Tough conditions apply the brakes to Motus
The automotive group says full-year revenue is likely to be flat, but earnings will increase.
MC Mining strikes off-take deal with AMSA
ArcelorMittal SA will replace imported hard coking coal with coal from MC Mining’s Makhado project once it’s up and running.
The industrial group says the costs for putting together last year’s empowerment deal will strip 7.3c from earnings per share.
19 June 2019
Old Mutual sacks CEO over dividend payments
Recent corporate governance breakdowns in the private and public sectors highlighted the need for directors to be vigilant in managing conflicts of interest.
MultiChoice scores with World Cup viewers
The video entertainment business reduced losses from its Rest of Africa operations as it grew subscriber numbers by 17% to 7.7 million.
Brait’s losses swell after a tough year
The investment company says it’s taking steps to reduce the discount its shares trade at relative to its value.
Alex Forbes sweetens results with special div
The pension funds administrator says it doesn’t plan to hold excess cash on its balance sheet following a change in its strategy.
Schroder progresses with its Winning Cities strategy
The real estate investment trust says the cities it has property in are better placed than many to weather global economic and political risks.
18 June 2019
On top of already tough economic conditions, the chemicals and fertilizer group has faced drought, impairments and currency issues in Zimbabwe.
Kore Potash raises funds for expansion
The potash exploration and development company says its Sintoukola project in Congo has the potential to become a preeminent production hub.
Etion warns of earnings decline
The company, previously called Ansys, says customers are spending less on projects due to the subdued economy.
Green light for Lighthouse to issue shares
The property investor says it will issue additional stock as and when investment opportunities arise.
The Week Ahead of 17 June 2019
The Fed will likely keep rates steady next week, but listen to the narrative very carefully. Crude oil prices spiked briefly on Thursday 13 June on...
14 June 2019
Mining remains in the doldrums
Lower gold production led a decline in overall mining production in April, continuing the negative trend for the sector.
The printing and packaging group has had to adjust since Media24 renegotiated printing contracts on less favourable terms.
Zarclear benefits from revised strategy
The investment group narrowed the discount to value its shares trade at after building a new investment case.
Trustco recovery aided by once-offs
The Namibian investment company says its diversity also assisted growth in 2019 earnings.
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)
Pembury reverses course on retirement
The group says it decided to dispose of its remaining retirement villages following feedback from shareholders and potential funders.
Weekly corporate finance activity by SA exchange-listed companies
Weekly summary of corporate finance activity by South African exchange listed companies
Thorts - The cost of not saying sorry
In this age of round-the-clock company scrutiny, almost as much focus is given to how a company handles a crisis as to the crisis itself.
I have been getting really angry about how the South African press is being used by media-savvy operators with suspect motives to play on our fears....