NEWS ARCHIVES


31 July 2020

AB InBev hails the return of beer drinkers

The global brewing giant has impaired its African operations and says the second alcohol ban in SA will affect its third-quarter performance.

Diamond’s aren’t Anglo’s best friend

The diversified resources group says first-half sales volumes at subsidiary De Beers fell close to a half.

Surprise as AngloGold CEO quits

The gold mining company gave no reason for Kelvin Dushnisky leaving on 1 September after two years at the helm.

Thorts - Amendment and restatement of documents: Considerations for security providers

In funding transactions (whether by means of debt or the issue of preference shares), funders typically require security for the funding provided.

Origin of the species

You might be astonished by what you thought you knew, but didn't. Or by what you thought you didn't need to know, but did.

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

Weekly summary of Merger & Acquisition activity by South African companies

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

Weekly summary of all Merger & Acquisition activity from across Africa (excluding South Africa)

Steinhoff’s loss widens as Covid impacts sales

The retail group says the financial costs of its restructuring also continues to be substantial as it seeks to settle lawsuits.

Sappi says demand is slowly returning

The pulp and paper producer fell into a quarterly loss as Covid-19 added to already weak markets for dissolving pulp and graphic paper.

Europa Metals pours cold water on recent rally

Its share price retraced some of its recent heady gains after it said there was no material event to explain the recent surge.

Weekly corporate finance activity by SA exchange-listed companies

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

CORPORATE ANNOUNCEMENT BY: GRAND PARADE INVESTMENTS LIMITED

CORPORATE ANNOUNCEMENT BY: Rand Merchant Investment Holdings Limited

CORPORATE ANNOUNCEMENT BY: MEDIA24 HOLDINGS PROPRIETARY LIMITED

CORPORATE ANNOUNCEMENT BY: RECM AND CALIBRE LIMITED

CORPORATE ANNOUNCEMENT BY: STEFANUTTI STOCKS HOLDINGS LIMITED

CORPORATE ANNOUNCEMENT BY: City Lodge Hotels Limited




30 July 2020

EOH fined the max for false financials

The JSE blamed a lack of governance and oversight mechanisms, inadequate and ineffective controls and systems on previous management.

Standard Bank warns of Covid earnings hit

The bank says headline earnings may halve due to the impact of continent-wide lockdowns on economic activity.

Sasol sells oxygen site to reduce debt

The energy and chemicals group is selling the site to a unit of French multinational Air Liquide as part of its accelerated disposal programme.

Grand Parade gets smaller burger deal due to Covid-19

The sale to ECP Africa Fund was renegotiated due to the risk introduced by Covid-19 and the sales impact of the lockdown.

AECI to pay dividend despite Covid-19 challenges

Although its markets remain affected, the chemicals and explosives group says its solid financial position allows it to pay an interim dividend.

Accelerate holds back on dividend

The property fund, which owns half of the Fourways super-regional mall, says it is also unlikely to pay a dividend for its 2021 year.




29 July 2020

Kumba plans expansion despite Covid-19 risks

The company plans to develop a new pit that will extend the life of its Kolomela mine and says it is encouraged by the recovery in...

Comair asks for more time for business rescue plan

The business rescue practitioners need another month to finalise short-term bridge funding and advance two offers from potential investors.

Vivo Energy reopens its pumps

The service station operator says fuel sales have rebounded following the easing of lockdown restrictions.

Bowler Metcalfe flags improved profitability

The plastics manufacturer says trading has been reasonable throughout the lockdown, with some beneficial procurement opportunities.

Impairments add to Sebata’s headline loss

The information and communications technology group says its headline loss was impacted by the write-down of financial assets.




28 July 2020

Steinhoff offers settlement to resolve claims

The group says if all claims against it were successful, its net asset value would fall short of the amount needed to settle them.

Amplats reports lower earnings due to Covid disruptions

The platinum producer says its second half should be stronger, although significant risks and headwinds still exist.

AngloGold to report higher earnings as gold rallies

The gold producer has benefitted from a rising gold prices, higher foreign exchange gain and lower once-off costs.

Forever blowing bubbles...

If central bankers were football fans, they would have appropriated the West Ham chant of "Forever Blowing Bubbles" a long, long time ago.

Invicta starts new year with a clean slate

The investment holding and management company took a decision to seriously review its balance sheet, resulting in significant impairments.

Liberty to swing to a first-half loss

The life assurer has set aside R3 billion to cover the expected increase in mortality and retrenchment claims as a result of Covid-19.

L2D holds back on dividend as it cuts its portfolio value

The shopping centre owner says it will consider the payment of a final dividend with its full-year results.

Santam to provide R1 billion in relief to business customers

Insurers have been under pressure from the authorities to provide some relief to their clients as an interim measure ahead of court rulings.

CORPORATE ANNOUNCEMENT BY: INVICTA HOLDINGS LIMITED




27 July 2020

Lockdown costs Pepkor billions in sales

The retailer says sales have recovered strongly following the relaxation of lockdown restrictions and as consumers trade down.

Woolworths saved by food sales as clothing declines

The retailer benefitted from a big rise in online sales as it marked down merchandise to manage inventory and generate cash.

Tencent on top of its games

International mobile games are increasingly important for Tencent, growing ahead of its China revenues.

MTN rallies on earnings bonanza

First-half earnings were boosted by disposals while headline earnings gained from non-operational items.

Thorts - W&I Insurance in the New Dynamic

Originally intended to provide sellers with peace of mind once they exited a business, W&I Insurance has evolved to include buy side policies.

The Week Ahead with Chris Gilmour

US/China political tensions heighten.

City Lodge to slump into a loss

The hotel group has reopened some of its hotels as lockdown restrictions ease but occupancies remain low.

Octodec to revisit distribution policy

After withholding an interim distribution, the real estate investment trust says it will decided on its policy with its full-year results.

Delta offloads Grit stake ahead of delisting

Grit is consolidating its three listings into two, which it says will save on costs and boost trading in London and Mauritius.




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