Weekly corporate finance activity by SA exchange-listed companies

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Weekly corporate finance activity by SA exchange-listed companies
Credit: © Reuters.

enX (JO: ENXJ ) declares special distribution

Following the completion of its divestment of EIE Group, announced in September 2021, the company has declared a special distribution of 200c per enX share totalling R364 million. The distribution will be paid to ordinary shareholders on June 13, 2022.

Heriot Reit (JO: HETJ ) acquires further shares

Heriot has advised that through Heriot Properties and Heriot Investments, it has acquired an additional 3,610,552 Safari Investments (RSA) shares. The company now holds 102,85 million Safari shares representing a 33.1% stake. Heriot's stated strategy is to increase its shareholding in Safari.

NWK repurchases shares

The company has repurchased 3,798,437 shares from 'Retiring Shareholders' (who are the age of 70 and older) in transactions valued at R19,99 million.

Pan African Resources (JO: PANJ ) to repurchase shares

The company has announced the initiation of phase one of a share buyback programme to purchase up to R50 million (2,6 million) worth of ordinary shares over one month commencing April 1, 2022. Purchases will take place on the LSE and JSE with c. R25 million purchased on each exchange. The shares bought back on the JSE will be in compliance with the MAR Buy-Back Regulation to maintain consistency between exchanges. This week the company repurchased 381,510 shares valued at 85,344 on the LSE and 37,481 shares on the JSE valued at R159,294.

Glencore (LON: GLEN ) repurchases shares

The company has repurchased 2,922,845 shares at an average price of 5.07 per share in terms of its existing buyback programme which is expected to end in August 2022.

British American Tobacco (JO: SNHJ ) to repurchases shares

This week BAT (LON: BATS ) repurchased 1,595,000 shares for a total of 51,28 million. The purchased shares will be held in treasury with the number of shares permitted to be repurchased set at 229,400,000.

Grand Parade Investments (JO: GPLJ ) places subsidiary in voluntary liquidation

After considering various options to mitigate the losses in its subsidiary Mac Bothers Catering and Equipment, GPI has placed the company in voluntary liquidation.

Four companies either issued, renewed or withdrew a cautionary this week The following companies advised shareholders: Etion (JO: ETOJ ), Royal Bafokeng Platinum (JO: RBPCBe ), Hulamin (JO: MTNJ ) and Mahube.

DealMakers is SA's M&A publication.www.dealmakerssouthafrica.com

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