Corporate Finance activity of the week


Corporate Finance activity of the week

Published Date: 2018-12-07 | Source: DealMakers | Author: Marylou Greig | Comments

Corporate Finance activity of the week

Results of Renergen's fully underwritten rights offer
In terms of the rights offer, shareholders subscribed for a total of 2,475,333 Rights Offer shares constituting 14.85% of the Offer shares at a subscription price of R7.50 per share. The remaining 85.15% of the Rights Offer shares were subscribed for by Mazi, resulting in Mazi holding a 24.76% stake in Renergen.

Results of Oasis Crescent Property Fund's scrip distribution alternative
The company has issued 1,265,056 new units in terms of its scrip distribution alternative retaining R27,84 million in the company. The units were issued at R21.68 per unit.

Peregrine repurchases shares
Peregrine and Citadel Long-Term Investment Scheme 3, have repurchased 7,537,208 shares at an average price of R20.55 per share. The repurchased shares represent 3.3341% of the company's issued share capital. The shares were repurchased over the period September 6 to November 30, 2018.

Reinet Investments repurchases shares
The company repurchased 464,987 shares during the period November 26 to 30 at an average price of R208.88 per share for a total consideration of R97,13 million. The repurchases were made as part of the share buyback programme announced on November 19, 2018.

South32 repurchases shares
The company has, this week, repurchased a further 10,339,123 shares for A$32,6 million (R326,4 million).

Hammerson plc repurchases shares
This week the company repurchased 1,284,258 shares at a cost of £4,83 million (R83,4 million) as part of a share buyback programme for its ordinary shares to return realised disposal proceeds to shareholders over the next 12 months. The maximum aggregate consideration under the programme will be €300 million up to a maximum of 79,422,719 ordinary shares.

Glencore repurchase shares
This week the company repurchased a further 12,998,358 shares at a cost of £38,55 million (R672,69 million) in terms of its buy-back programme.

One company issued a profit warning announcement
The following company issued a profit warning this week: Imbalie Beauty.

13 companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Imbalie Beauty, Choppies Enterprises, Group Five, Clover Industries, Stellar Capital Partners, New Frontier Properties, ENX, Middle East Diamond Resources, African Phoenix Investments, Pembury Lifestyle, ARB, Bauba Platinum and WG Wearne.

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