Weekly corporate finance activity by SA exchange-listed companies

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Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2019-03-15 | Source: DealMakers | Author: Marylou Greig | Comments

Weekly corporate finance activity by SA exchange-listed companies

Stor-Age Property REIT in equity raise
The company has completed an equity raise of approximately R585 million, up from the announced R350 million. The equity raise will be completed, in part, by way of vendor consideration placings and the balance in terms of Stor-Age's existing general authority to issue shares for cash. 46,245,059 shares were issued at R12.65 per share, a discount of 3.6% to the 30-day volume weighted average traded price on the JSE to March 11, 2019.


Sanlam issues shares
The company has advised that in terms of the B-BBEE transaction announced in 2018, the company will issue 111,349,000 Sanlam shares at an issue price of R70.00 per share.


Visual International issues shares
The company has entered into a subscription agreement with Zigzag and AM Associates in terms of which the two parties have agreed to subscribe for 303,030,304 Visual shares for cash at an issue price of R0.0363 per share for a consideration of R11 million.


Group Five placed in business rescue
The company has for some time experienced cash flow difficulties emanating from significant losses and negative cash flows in G5 Construction resulting in the company facing 'financial distress'. Application was made to the JSE to have the trading in the company shares suspended.


Visual International's suspension lifted
The company's shares resumed trading again on the JSE on March 14. The suspension in June 2018 followed the late publication of results for the year ended February 2018. The company has now released these results, together with the interim results for the period ended August 2018.


Caxton and CTP Publishers and Printers repurchases shares
In terms of the Odd Lot Offer, the company has repurchased 21,136 shares valued at R190,713 and in terms of the Specific Offer, 1,774,601 shares for a repurchase value of R16 million. The shares were cancelled and delisted on March 13, 2019.


Stenprop repurchases shares
The company has, this week, repurchases 425,581 shares valued at R8,99 million.


Glencore repurchase shares
This week the company repurchased a further 14,75 million shares at a cost of £44,63 million (R835,38 million) in terms of its buy-back programme.


South32 repurchases shares
The company has, this week, repurchases 1,837,245 shares valued at R70,4 million.


Reinet repurchases shares
The company has, this week, repurchases 294,938 shares valued at R68,32 million.


Nine companies issued a profit warning announcement
The following companies issued profit warnings this week: York Timber, Global Asset Management, Ascendis Health, ELB Group, Metrofile, Grand Parade Investments, Sun International, Quantum Foods and Balwin Properties.


Five companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Wescoal, Tongaat Hulett, Ascendis Health, Global Asset Management and Huge Group.


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