Weekly corporate finance activity by SA exchange-listed companies


Weekly corporate finance activity by SA exchange-listed companies

Published Date: 2020-11-27 | Source: DealMakers | Author: Marylou Greig

Weekly corporate finance activity by SA exchange-listed companies

Argent Industrial repurchases shares
Argent Industrial has repurchased a further 548,000 shares at a cost of R3,18 million. The company is entitled to repurchase a further 10, 55 million shares (16.34% of the ordinary shares in issue). The shares were purchased using available cash resources.

Orion Minerals issues shares
The company has issued 10 million shares following the exercise of unlisted options exercisable at A$0.02 raising $200,000. The proceeds from the issue will be utilised in exploration projects in South Africa's Northern Cape Province.

Alviva repurchases shares
The company repurchased a further 3,732,492 shares this week with a total value of R29,17 million.

Results of Spear REIT's scrip distribution alternative
Shareholders holding shares representing 47.6% of Spear shares in issue, elected the reinvestment alternative resulting in issue of 6,209,657 new ordinary shares at a reinvestment price per new share of R4.45. The result is a capitalisation of distributable retained profits in the company of R27,68 million.

Quilter repurchases shares
The company, this week repurchased an additional 181,796 shares on the LSE for £252,757 and 109,586 shares on the JSE for R3,19 million.

South32 repurchases shares
The company this week repurchased 8,468,001 shares valued at A$19,64 million (R219,9 million).

Zarclear sells Stenprop shares on the open market
The company has sold a further 945,269 Stenprop shares at R26.18 per share on an on-market block trade. Following the disposals, Zarclear now owns in aggregate 11,38 million Stenprop shares representing a c.3.81% equity stake in Stenprop.

Famous Brands takes secondary listing on A2X
Famous Brands has received approval for inclusion in the list of qualifying equity securities to be traded on A2X with effect from November 30, 2020.

Consolidated Infrastructure shares suspended
The company's request to have the trading of its shares on the JSE suspended was approved on November 25, 2020. The decision follows the commencement by two of its subsidiaries, Consolidated Power Projects and CIG, of business rescue proceedings.

Investec Australia Property Fund name change
The company's shares will trade under the name Irongate Group from commencement of trading on December 2, 2020.

Seven companies issued a profit warning announcements
The following companies issued profit warnings this week: Premier Fishing and Brands, Huge, African Equity Empowerment Investments, Aveng, Vukile Property Fund, Master Drilling and FirstRand.

Three companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Imbalie Beauty, Labat Africa and Aveng.

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