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

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

Published Date: 2020-10-16 | Source: DealMakers | Author: Marylou Greig

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

Northam Platinum increases stake in Zambezi preference shares
The company has purchased a further 37,179,697 Zambezi Preference shares for a total cash consideration of c.R3,5 billion. Following the acquisition, Northam will hold 111,909,248 Zambezi preference shares representing c.70% of all Zambezi preference shares in issue. The acquisition of the preference shares will reduce the preference share dividend expense and liability included in Northam's consolidated financial statements.


Gaia Fund 1 to list on 4AX
Gaia Fund Managers and Kruger International and Wealth Management have announced the listing of SA's first preference shares with an infrastructure focus. The listing is planned for October 22. The proceeds of the listing will be used to acquire a 16% indirect shareholding in the Tsitsikamma Community Wind Farm.


Efora Energy suspended by the JSE
The company has failed to submit its annual financial statement within the period stipulated by the JSE's Listing Requirements and has been suspended effective October 12, 2020.


Five companies issued a profit warning announcements
The following companies issued profit warnings this week: PSG Group, Brikor, Renergen, Mondi and Pepkor.


Six companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Imbalie Beauty, Accentuate, Alviva, Omnia, Famous Brands and Investec Australia Property Fund.


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