Weekly corporate finance activity by SA exchange-listed companies


Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2020-08-07 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

Hammerson proposes rights issue
The company has announced a proposed rights issue to raise gross proceeds of c.£552 million in a move to deal with the substantial impact on its business driven by major structural changes to the retail industry which have been exacerbated by the effects of COVID-19. An offer of 3,678,209,328 new shares will be made at £0.15/R3.41 per issue share, representing 2,400% of its consolidated shares in issue immediately following the Capital Reorganisation and approximately 96% of the enlarged capital following the completion of the reorganisation and rights issue. Hammerson has received irrevocable undertaking from its two largest shareholders APG and Lighthouse Capital who hold 20% and 14% respectively.

Kibo Energy issues shares
The company has issued 28,636,364 shares at £0.0022 per share representing an aggregate amount of £63,000 in terms of fees owed to lenders of its loan facilities and the due diligence fee.

Quilter repurchases shares
This week the company has repurchased 1,947,697 shares on the London Stock Exchange at a cost of £2,41m and 1,548,059 shares on the JSE at a cost of R51,25 million.

Orion Minerals requests trading halt
The company has requested a trading halt as it anticipates making a material announcement on August 10, 2020 in relation to a proposed capital raising.

Intu Properties to delist from JSE
In June Intu's share was suspended on the JSE when the company entered administration. Failure to secure agreements to defer debt payments will see the company delist from the exchange on August 24, 2020.

Seven companies issued a profit warning announcements
The following companies issued profit warnings this week: Imbalie Beauty, Shoprite, Etion, Pick n Pay Stores, Cashbuild, Onelogix and South Ocean.

Six companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Accentuate, Mine Restoration Investments, Unicorn Capital Partners, Rand Merchant Investment, MTN Zakhele Futhi and Pembury Lifestyle.

DealMakers is SA's M&A publication.

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