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Corporate finance activity of the week

News from Fortress Income Fund, Redefine International, Delta Africa Property, ARM, Mediclinic and more.

Fortress Income Fund equity raise

The company has raised of R1.38 billion through the issue of 27 960 606 new Fortress A shares and 27 960 606 new B shares. The A shares were priced at R15.00 per share while the B shares were priced at R34.50 per share.

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Argent Industrial repurchase of shares

The company has repurchased a further 201 420 shares for an aggregate consideration of R740 957. Argent is entitled to repurchase a further 18 692 544 shares in terms of the current general authority.

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Redefine International share placing  

Redefine International has successfully placed a total of R270 588 236 shares raising gross proceeds of £115 million.

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ARM restructures BBEE Trust

African Rainbow Minerals will restructure its BBEE Trust following the decline in commodity prices. The company will repurchase 12 717 328 shares from the Trust at R51.19 per share.

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Delta Africa Property share placing  

The company has successfully placed 2 004 192 new shares at $1.70 per share to raise $3.4 million.

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Mediclinic International issues shares

Al Noor Hospitals to be renamed Mediclinic International in terms of the scheme of arrangement has issued 72 115 384 shares to Remgro Health and Remgro Jersey.

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Listing of additional DivTrax securities 

400 000 additional DivTrax securities were issued and listed on February 12 at an issue price of R42.98 per security. ___________________________________________________________________________

Finbond Rights Offer  

The group has announced the terms of the rights offer whereby 157 185 629 new Finbond ordinary shares will be offered for subscription at R3.34 per rights offer share.

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Profit warning announcement

The following two companies issued a profit warning this week: Taste Holdings, Northam Platinum, Sun International, Impala Platinum, Advanced Health, Hulamin and Grindrod.

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Five companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: ArcelorMittal South Africa, Keaton Energy, Alert Steel, Bioscience Brands, Ascension Properties.

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