Corporate finance activity of the week. Discovery

The company has issued 11,445,744 new Discovery ordinary shares at 162.00 rand per

share to raise 1,85 rand billion by way of a vendor consideration placement. The

proceeds of the placement will be used to settle the acquisition of FirstRand

Investment Holdings' 25.01% interest in Discovery Bank, the remaining 25.01%

economic interest in the Discovery card joint venture business and through

Discovery Bank acquire all the rights to the Discovery card book and related

assets.

Cullinan repurchases preference shares

The listing of the ordinary shares in the company was terminated in March this

year but an offer was not extended to the Preference Shareholders at the time

as they were not entitled to vote at the scheme meeting. Preference

Shareholders are now being offered the opportunity to dispose of their shares.

The maximum aggregate consideration will be 1,1 rand million.

South32 repurchases shares

The company this week repurchased a further 2,602,536 shares for A$9,23

million (95,05 rand million).

Hammerson plc repurchases shares

This week the company repurchased 1,130,338 shares at a cost of 4,98 million

(92,49 rand 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 13,727,303 shares at a cost of

41,48 million (770,08 rand million) in terms of its buy-back programme.

PSG Konsult to take a secondary listing

PSG Konsult has been granted permission by the Stock Exchange of Mauritius to

take a secondary listing on the Official Market of the SEM. The company will

commence trading on the SEM on November 27, 2018.

Phuthuma Nathi Investments to list

Phutuma Nathi, MultiChoice's empowerment scheme, will list on the Equity

Express Securities Exchange on November 23, 2018.

Cargo Carriers

The company is expected to terminate its listing on the JSE on January 22,

2019 following a scheme of arrangement and acquisition by CCH.

Six companies issued a profit warning announcement

The following companies issued profit warnings this week: Rebosis Property

Fund, Tiger Brands, Invicta, Tongaat Hulett, Omnia and African Equity

Empowerment Investments.

Four companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Famous Brands, Stellar Capital

Partners, Torre Industries and Distribution and Warehousing Network.

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