03 August 2020

MTN holding back on an interim dividend

The network operator is preserving its liquidity due to Covid-19 uncertainty but may pay a final dividend at year-end.

Glencore supported by marketing business

The group says its marketing arm has risen to the challenge posed by Covid-19, with strong counter-cyclical earnings.

Gloomy outlook as Novus reports a loss

The print and packaging group says it is only likely to return to a profit in 2022 if the lockdown lifts by next March.

Thorts - Amendment and restatement of documents: Considerations for security providers

In funding transactions (whether by means of debt or the issue of preference shares), funders typically require security for the funding provided.

Make American Dream your alternative future

When you have your heart set on immigrating, the question then becomes, where would the best country be for you and your family to move to?

The Week Ahead

Gold rises on weaker US dollar.

Astoria encouraged by trading at CNA

The investment group led a consortium of investors that bought the stationary chain from Edcon in April.

Sebata holding out for NOSA proceeds

If the ICT company receives the earn-out owed to it from the NOSA disposal it is likely to dish it out to shareholders.

31 July 2020

AB InBev hails the return of beer drinkers

The global brewing giant has impaired its African operations and says the second alcohol ban in SA will affect its third-quarter performance.

Diamond’s aren’t Anglo’s best friend

The diversified resources group says first-half sales volumes at subsidiary De Beers fell close to a half.

Surprise as AngloGold CEO quits

The gold mining company gave no reason for Kelvin Dushnisky leaving on 1 September after two years at the helm.

Thorts - Amendment and restatement of documents: Considerations for security providers

In funding transactions (whether by means of debt or the issue of preference shares), funders typically require security for the funding provided.

Origin of the species

You might be astonished by what you thought you knew, but didn't. Or by what you thought you didn't need to know, but did.

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

Weekly summary of Merger & Acquisition activity by South African companies

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

Weekly summary of all Merger & Acquisition activity from across Africa (excluding South Africa)

Steinhoff’s loss widens as Covid impacts sales

The retail group says the financial costs of its restructuring also continues to be substantial as it seeks to settle lawsuits.

Sappi says demand is slowly returning

The pulp and paper producer fell into a quarterly loss as Covid-19 added to already weak markets for dissolving pulp and graphic paper.

Europa Metals pours cold water on recent rally

Its share price retraced some of its recent heady gains after it said there was no material event to explain the recent surge.

Weekly corporate finance activity by SA exchange-listed companies

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


CORPORATE ANNOUNCEMENT BY: Rand Merchant Investment Holdings Limited





30 July 2020

EOH fined the max for false financials

The JSE blamed a lack of governance and oversight mechanisms, inadequate and ineffective controls and systems on previous management.

Standard Bank warns of Covid earnings hit

The bank says headline earnings may halve due to the impact of continent-wide lockdowns on economic activity.

Sasol sells oxygen site to reduce debt

The energy and chemicals group is selling the site to a unit of French multinational Air Liquide as part of its accelerated disposal programme.

Grand Parade gets smaller burger deal due to Covid-19

The sale to ECP Africa Fund was renegotiated due to the risk introduced by Covid-19 and the sales impact of the lockdown.

AECI to pay dividend despite Covid-19 challenges

Although its markets remain affected, the chemicals and explosives group says its solid financial position allows it to pay an interim dividend.

Accelerate holds back on dividend

The property fund, which owns half of the Fourways super-regional mall, says it is also unlikely to pay a dividend for its 2021 year.

29 July 2020

Kumba plans expansion despite Covid-19 risks

The company plans to develop a new pit that will extend the life of its Kolomela mine and says it is encouraged by the recovery in...

Comair asks for more time for business rescue plan

The business rescue practitioners need another month to finalise short-term bridge funding and advance two offers from potential investors.

Vivo Energy reopens its pumps

The service station operator says fuel sales have rebounded following the easing of lockdown restrictions.

Bowler Metcalfe flags improved profitability

The plastics manufacturer says trading has been reasonable throughout the lockdown, with some beneficial procurement opportunities.

Impairments add to Sebata’s headline loss

The information and communications technology group says its headline loss was impacted by the write-down of financial assets.

28 July 2020

Steinhoff offers settlement to resolve claims

The group says if all claims against it were successful, its net asset value would fall short of the amount needed to settle them.

Amplats reports lower earnings due to Covid disruptions

The platinum producer says its second half should be stronger, although significant risks and headwinds still exist.

AngloGold to report higher earnings as gold rallies

The gold producer has benefitted from a rising gold prices, higher foreign exchange gain and lower once-off costs.

Invicta starts new year with a clean slate

The investment holding and management company took a decision to seriously review its balance sheet, resulting in significant impairments.

Liberty to swing to a first-half loss

The life assurer has set aside R3 billion to cover the expected increase in mortality and retrenchment claims as a result of Covid-19.

L2D holds back on dividend as it cuts its portfolio value

The shopping centre owner says it will consider the payment of a final dividend with its full-year results.

Santam to provide R1 billion in relief to business customers

Insurers have been under pressure from the authorities to provide some relief to their clients as an interim measure ahead of court rulings.


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