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Corporate finance activity of the week

Datacentrix to delist, African Phoenix to resume trading.

Coal raises funds through share placement

Coal of Africa has, through the placement of 49 million shares to M&G Investment Management, raised $2 million (R26.8 million).

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African Phoenix to resume trading

African Phoenix, formerly African Bank Investments (Abil), resumed trade this week after shares were suspended in August 2014 following curatorship proceedings instituted against African Bank.  African Phoenix’s only operating entity is Stangen, a long-term insurer.

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Investec Australia Property Fund undertakes rights offer

The Fund intends to raise R1.53 billion in a partially underwritten rights offer through the issue of 113 333 342 new units at R13.50 per unit. The funds will be used for recent acquisitions.

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Premier Food and Fishing to list on the JSE

African Equity Empowerment Investments is set to list its fishing and food unit on the local bourse on March 2 2017. The company expects the IPO to value the unit at R1.2 billion.

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Transaction Capital to raise funds

The company intends to raise funds through the issue of up to 28 400 000 new shares.

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Central Rand Gold issues shares 

The company has issued 936 330 new shares to Brandon Hill Capital as part consideration of their fee.

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Exercise of Warrants in Jubilee Platinum 

The company has received notification from a warrant holder to exercise 10 550 581 existing warrants at R0.54 per warrant share.

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Central Rand Gold issues conversion shares

The company has issued a further 6 345 178 new ordinary shares in respect of convertible security pursuant to the convertible securities issuance deed entered into with Bergen Global Opportunity Fund. The conversion price is 0.8 pence per share.

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Datacentrix to delist

Datacentrix shares will be suspended on the JSE on February 8 and its listing terminated on February 14. This follows the scheme of arrangement whereby Pinnacle will acquire all shares in Datacentrix from minorities.

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Listing of additional Ashburton MidCap securities

1 000 000 additional Ashburton MidCap securities were issued and listed on February 1 at an issue price of R7.82 per security. Subsequent to listing there will be 25 000 000 Ashburton MidCap ETF securities in issue.

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Listing of additional CoreShares Global Property securities

240 557 GLPROP securities were issued this week at an average issue price of approximately R33.40 per security. Following the additional listing there will be 4 593 828 securities in issue.

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Listing of additional CoreShares Top 50 securities

75 000 additional CoreShares Top 50 securities have been issued and listed on January 31 at an issue price of R21.40 per security.

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Listing of additional DivTrax securities

75 000 additional DivTrax securities were issued and listed on January 27 at an issue price of R29.00 per security. Following the listing there will be 4 460 000 securities in issue.

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Listing of additional PrefTrax securities

1 050 000 additional PrefTrax securities were issued and listed during the week at an issue price of R9.35 per security. Following the listing there will be 44 175 000 securities in issue.

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Listing of additional CoreShares S&P 500 securities

160 896 CSP500 securities were issued this week at an average issue price of R31.00 per security. After the securities have been issued and listed, there will be 6 351 207 securities in issue.

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Five companies issued profit warning announcements

The following companies issued profit warnings this week: Lonmin, Liberty, Workforce, RCL Foods and African Bank Investments.

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Seven companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Sasfin, Clover Industries, Labat Africa; Steinhoff International, Shoprite, M FiTEC International and Echo Polska Properties.

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

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