12 April 2019

Sibanye-Stillwater gets cash upfront for gold

Combined with this week’s equity raise, the gold and platinum producer has access to about R10 billion of undrawn credit.

Altron rallies on profit forecast

More dividends lie ahead after the IT and electronics group said it expected a strong rise in full-year earnings.

Zeder marks down its investment in Pioneer

The investment group’s value has dropped following a 37% slide in Pioneer Foods’ share price.

Steinhoff’s Conforama secures funding arrangement

The French retailer says the capital will ensure the stability of its capital structure and operations.

Who’s doing what this week in the South African M&A space?

Weekly summary of M&A activity by South African companies

Who’s doing what in the African M&A space?

Weekly summary of all M&A activity from across Africa (excluding South Africa)

Tharisa’s production picks up despite blackouts

The platinum and chrome producer says it’s back on track to meet its Vision 2020 targets following improvements at its mining operations.

AH-Vest benefits from improved capacity

The branded sauces company invested in plant and equipment in the six months to end-December for its Veri Peri line of sauces.

Cashbuild lifted by new stores

Third-quarter growth was driven entirely by the new stores opened or acquired since the start of its 2018 financial year.

Weekly corporate finance activity by SA exchange-listed companies

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

Thorts - Higher penalties on the cards for failing to notify mergers

The Tribunal has the power to impose penalties of up to 10% of a firm's annual turnover in SA for failing to notify a merger

11 April 2019

Value Capital raises the stakes in Grand Parade

The activist investor has grown its shareholding to above 20% as chairman Hassan Adams reduces his stake.

Arrowhead and Gemgrow plan merger

The real estate investment trusts say a single listing will create a simpler group structure and benefit shareholders.

Sibanye raises R1.7 billlion capital buffer

The gold and platinum producer sold close to 109-million shares at R15.50 each to existing and new institutional investors.

Barloworld broadens black ownership in R3.5 billion transaction

The industrial conglomerate is selling a portfolio of its SA property to black investors, including employees, management and the broader public.

Santova expands its European offering

The logistics group will pay up to €1.92 for MLG Maritime Cargo Logistics as it expands its global presence.

Mid Cap Darlings – Life Healthcare Limited

The company’s name is relatively self-explanatory. Sometimes simplicity is key. This group of companies is trying to keep you alive. Of course, at a cost. But...

PSV in talks to raise capital

The industrial holding company gave no further details but the capital injection follows the sale of a stake to Regis Holdings last year.

enX still mulling options for fleet management unit

The industrial holding group says it’s also reviewing other opportunities to create more shareholder value.

Business Maverick: Are South African cellphone companies becoming a new form of African government ATM machine?

First, the Nigerian government imposed massive fines of MTN in disputed circumstances for notional regulatory infractions. Now the executives of Vodacom's Tanzanian business have been arrested...

BUSINESS MAVERICK ANALYSIS: Trading on US-China deal to deliver the goods

Global free trade is one of those amazing benefits to global wealth. The IMF has measured a 60% reduction in prices in emerging economies since 1990...

10 April 2019

Sibanye plans capital raise as strike continues

The gold and platinum producer plans to raise R1.8 billion to tide it over but may resume dividend payments if all goes well.

Rolfes rallies as CEO buys shares

In what could be seen as a vote of confidence, Richard Buttle has spent more than half a million rand on the company’s shares.

Murray’s Dubai dispute nears an end

Dubai’s Department of Civil Aviation and the HMRT joint venture have to agree on a final account for the cancelled Dubai International Airport contract.

Premier Fishing lifted by squid acquisition

The fisheries group says it’s seeing the benefits of last year’s acquisition of Talhado Fishing Enterprises.

The Week Ahead of 8 April 2019

The S&P 500 may make a new high this quarter

Jasco flags a return to profit

The electronics group’s ICT businesses have benefitted from higher spend in the telecommunications sector.

Indequity benefits from investment gains

The short-term insurer expects to report a strong rise in first-half earnings helped by a rise in investment income.

Accéntuate’s profits fall over 120% due to loss on Pentafloor

During 2017, Accéntuate purchased flooring specialist Pentafloor for R19.19 million to diversify the company’s offering in the flooring infrastructure segment.

Kibo shares soar 150% after CEO updates shareholders on four key projects

Over the past six months, JSE- and Aim-listed Kibo Energy has embarked on an extreme business makeover by selling off its mining assets to switch its...

4Sight shares up 40% thanks to higher earnings

On 27 March, Mauritian-based investment holding company 4Sight provided shareholders with an accurate trading update; from the one, the company released on 22 March.

Sibanye wants gold strike declared unprotected

AMCU says a verification process into membership numbers at Sibanye’s gold mines was flawed and the company was premature in declaring victory.

09 April 2019

Afrimat enters bid for Universal Coal

A consortium including JSE-listed Wescoal terminated negotiations for Universal after failing to get the recommendation of the junior coal miner’s board.

Pick n Pay claims market share gains

The retailer says turnover rose by a market-beating 9.6% in the 53 weeks to 3 March, with like-for-like volumes up 5.1%.

ADvTECH wraps up Monash deal

The private education group also welcomed a High Court judgement that law degrees from private institutions should be recognised by the Law Society.

Sirius flags strong results as its exits non-core properties

The German property investors expects like-for-like growth in rental income to top the 6.2% it reported last year.

IAPF revises distribution guidance upwards

Investec Australia Property Fund expects growth in its post-withholding tax distribution to be higher than previously forecast.

08 April 2019

Steinhoff buys more time for results release

The “track and trace” process required to ensure appropriate adjustments of accounting irregularities has proved to be more complex and time-consuming than expected.

Murray joint venture wins Snowy Mountains tender

The group has been looking for new complementary markets to support its order book in Australia.

Gamsberg project pushes ELB into first-half loss

The engineering group and capital equipment supplier says it’s pursuing all possible recoveries, including insurance claims, back charges, and project asset sales.

Afrimat flags a rebound in earnings

The construction materials group expects to report a rise of between 20% and 30% in full-year earnings.

ESKOM WOES, continued: Bring urgently needed skills and new capacity, enable independent power generation - Anton Eberhard

Eskom chairman Jabu Mabuza told journalists on Wednesday that Eskom would have a R250bn shortfall over the next three years and even the thumping R69bn capital...

New CEO to drive MAS strategy

The European property investor has appointed former banking executive Werner Behrens as CEO from 1 May.

Oando to cut debt with Axxela sale

The energy firm’s auditors say there’s material uncertainty about its ability to continue as a going concern as its liabilities exceed its assets.

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