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Corporate finance activity of the week
Corporate finance activity of the week. Lonmin undertakes refinancing
The company has announced that it has entered into a $200 million metal purchase agreement with Pangaea Investment Management, an associate company of Jiagxi Copper Company, pursuant to which the upfront payment will be amortized over three years. Lonmin will settle its pre-existing term loan of $150 million and cancel all its other pre-existing undrawn facilities.
PBT repurchases shares
The company has repurchased 305,062,917 shares at a price of R0.20 per share at a total cost of 61 million.
Mustek repurchases shares
The company has repurchased 2,420,414 shares at a price of between R6.70 per share and R7.20 per share at a total cost of R17,22 million. The general repurchased commenced from September 5 until October 17, 2018.
Results of Rand Merchant Investment's distribution alternative
The company has issued 9,088,564 new shares in terms of its scrip distribution alternative at a price of R38.00 per share resulting in retained profits to the company of R345,4 million.
South32 repurchases shares
The company this week repurchased a further 3,080,841 shares for A$11,6 million (R118,3 million).
Hammerson plc repurchases shares
This week the company repurchased 1,137,146 shares at a cost of 5 million (R92,9 million) as part of a share buyback programme for its ordinary shares to return realised disposal proceeds to shareholders over the next 12 months. The maximum aggregate consideration under the programme will be "300 million up to a maximum of 79,422,719 ordinary shares.
Glencore repurchase shares
This week the company repurchased a further 14,741,676 shares at a cost of 45,4 million (R841,8 million) in terms of its buy-back programme
MICROmega to change name
MICROmega was recently reclassified from the Business Support Services subsector classification to the Computer Services subsector following the disposal of the NOSA Group. The company's move into a growth focused portfolio based on technology dependent services has resulted in the company proposing a name change. The new name Sebata Holdings will take effect from October 31, 2018.
Five companies issued a profit warning announcement
The following companies issued profit warnings this week: Hulisani, Howden Africa, Brikor, Premier Fishing, Brands and Novus.
14 companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Choppies Enterprises, eXtract, PBT Group, Stellar Capital Partners, Imbalie Beauty, Clover Industries, Santova, African Phoenix Investments, Verimark, enX, Middle East Diamond Resources, MTN, Astoria Investments and Famous Brands.
DealMakers is SA's M&A publication.www.dealmakers.co.za
Follow @DealMakers
...back to DealMakers
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By INCE|Connect NewsCorporate finance activity of the week. Lonmin undertakes refinancing
The company has announced that it has entered into a $200 million metal purchase agreement with Pangaea Investment Management, an associate company of Jiagxi Copper Company, pursuant to which the upfront payment will be amortized over three years. Lonmin will settle its pre-existing term loan of $150 million and cancel all its other pre-existing undrawn facilities.
PBT repurchases shares
The company has repurchased 305,062,917 shares at a price of R0.20 per share at a total cost of 61 million.
Mustek repurchases shares
The company has repurchased 2,420,414 shares at a price of between R6.70 per share and R7.20 per share at a total cost of R17,22 million. The general repurchased commenced from September 5 until October 17, 2018.
Results of Rand Merchant Investment's distribution alternative
The company has issued 9,088,564 new shares in terms of its scrip distribution alternative at a price of R38.00 per share resulting in retained profits to the company of R345,4 million.
South32 repurchases shares
The company this week repurchased a further 3,080,841 shares for A$11,6 million (R118,3 million).
Hammerson plc repurchases shares
This week the company repurchased 1,137,146 shares at a cost of 5 million (R92,9 million) as part of a share buyback programme for its ordinary shares to return realised disposal proceeds to shareholders over the next 12 months. The maximum aggregate consideration under the programme will be "300 million up to a maximum of 79,422,719 ordinary shares.
Glencore repurchase shares
This week the company repurchased a further 14,741,676 shares at a cost of 45,4 million (R841,8 million) in terms of its buy-back programme
MICROmega to change name
MICROmega was recently reclassified from the Business Support Services subsector classification to the Computer Services subsector following the disposal of the NOSA Group. The company's move into a growth focused portfolio based on technology dependent services has resulted in the company proposing a name change. The new name Sebata Holdings will take effect from October 31, 2018.
Five companies issued a profit warning announcement
The following companies issued profit warnings this week: Hulisani, Howden Africa, Brikor, Premier Fishing, Brands and Novus.
14 companies either issued, renewed or withdrew cautionaries
The following companies advised shareholders: Choppies Enterprises, eXtract, PBT Group, Stellar Capital Partners, Imbalie Beauty, Clover Industries, Santova, African Phoenix Investments, Verimark, enX, Middle East Diamond Resources, MTN, Astoria Investments and Famous Brands.
DealMakers is SA's M&A publication.www.dealmakers.co.za
Follow @DealMakers
...back to DealMakers