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Corporate finance activity of the week

Life Healthcare, Rebosis, Astoria and others.

Life Healthcare to undertake rights offer

The company intends to raise R9 billion in a proposed rights offer and not R10.7 billion as previously envisaged. The funds will be used to refinance a portion of the bridge facility related to the Alliance Medical Group acquisition.

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Rebosis issues shares

The company has issued 9 897 292 new shares at R10.71 per share to the Billion Group as part of a compulsory re-investment of cash proceeds received pursuant to the claw-back offer to subscribe for further share in Rebosis.

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Distribution and Warehousing Network to undertake rights offer

The company intends to raise R350 million in a proposed rights offer and expects the offer to be fully underwritten.

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DiamondCorp issue of shares delayed

The company planned to raise £1 million through an accelerated book build process. The proceeds of the placing were to be utilised towards funding expenditure requirements during the business rescue process of its Lace Diamond Mines. Admission of the placing shares has been delayed to January 31 due to an inability to reach agreement with the secured lender on various issues related to the board’s obligations pursuant to the placing.

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Exercise of warrants in Jubilee Platinum

The company has received notification from a warrant holder to exercise 2 500 000 existing warrants at R0.53 per warrant share.

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Astoria Investments proposes share buyback

The company has authorised the target buyback of up to 6 327 000 representing 4.99% in its issued share capital at a price not greater than R11.66.

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Sirius Real Estate to transfer to the main board 

The company has announced it is to transfer to the main board on both the London Stock Exchange and the JSE effective March 6 2017.

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Abil to change its name

The company has announced it is to change its name to African Phoenix Investments, effective February 1 2017.

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Listing of additional AfricaGold debentures

AfricaGold has issued an additional 750 000 debentures at an average issue price of R160.40. After the additional issue there will be 750 000 debentures in issue.

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Listing of additional Ashburton Inflation ETFs

1 000 000 additional securities were issued and listed on January 26 at an issue price of R21.02 per security. Following the listing there will be 25 200 000 securities in issue.

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Listing of additional CoreShares S&P 500 securities

530 733 CSP500 securities were issued this week at an average issue price of R31.25 per security. After the securities have been issued and listed, there will be 6 190 311 securities in issue.

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Listing of additional Ashburton Top 40 securities

1 000 000 additional securities were issued and listed on January 24 at an issue price of R45.75 per security. Following the listing there will be 20 000 000 securities in issue.

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Listing of additional PrefTrax securities

875 000 additional PrefTrax securities were issued and listed during the week at an issue price of R9.50 per security. Following the listing there will be 43 125 000 securities in issue.

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Three companies issued profit warning announcements

The following companies issued profit warnings this week: Imperial, Lewis and Sasol.

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10 companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Imbalie Beauty, 1time, Allied Electronics, ZCI, Echo Polska Properties, Datatec, Distribution and Warehousing Network, Chrometco, Indluplace Properties and Esor.

DealMakers is SA’s M&A publication. www.dealmakers.co.za

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