Corporate finance activity of the week

BHP Billiton launches bond repurchase plan

The company is to repurchase bonds valued at $2.5 billion. The repurchase plan will target 2018, 2019, 2021, 2022, and 2023 US dollar denominated notes and will be funded by the company’s $14 billion cash resources.

_________________________________________________________________________

Capitec Bank repurchases preference shares  

Capitec has repurchased 65 781 preference shares, representing 3.41% of the issued preference share capital for an aggregate value of R6.12 million. Capitec is entitled to repurchase a further 131 641 preference shares in terms of the current general authority.

_________________________________________________________________________

Stor-age undertakes an equity capital raise

The company has raised R400 million through an accelerated book build process. 37 002 776 shares were placed at a price of R10.81 per share.

_________________________________________________________________________

Kaap Agri to list on the JSE

Farming community retailer Kaap Agri is considering listing on the main board of the JSE as early as mid-year.

_________________________________________________________________________

Coal of Africa to issue shares

The company has received notification from Yishun Brightrise Investment Pte requesting the conversion of a $10 million loan to Coal’s ordinary shares. The conversion to 245 037 980 ordinary shares will be in two tranches. 240 042 603 shares will be issued immediately at $0.04081 per share and the second tranche of 4 995 378 shares will be issued once shareholder approval has been granted.

_________________________________________________________________________

Pinnacle name change details

Pinnacle will change its name to Alviva Holdings effective Monday March 13 2017.

_________________________________________________________________________

Exercise of Warrants in Jubilee Platinum 

The company has received notification from a warrant holder to exercise 625 000 warrants at a price of R0.3252 and 500 000 warrants at a price of R0.4065 per warrant.

_________________________________________________________________________

Results of Esor Rights Offer

The company has raised R37.54 million, offering 98 796 357 shares at R0.38. The underwriter took up 36.1% of the offer shares.

_________________________________________________________________________

Murray & Roberts to transfer listing   

The company has confirmed it has applied to the JSE to transfer its listing from the ‘Construction and Materials’ sector to the ‘General Industrials’ sector and ‘Diversified Industrials’ subsector.  

_________________________________________________________________________

Listing of additional Satrix Fini securities

4 000 000 additional Satrix Fini securities were issued and listed on February 17 at an issue price of R15.18 per security.

_________________________________________________________________________

Listing of additional CoreShares S&P 500 securities

1 77 038 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 8 926 469 securities in issue.

_________________________________________________________________________

Listing of additional Satrix 40 securities

1 000 000 additional Satrix 40 securities were issued and listed at an issue price of R45.94 per security. _________________________________________________________________________

Listing of additional NewGold debentures

NewGold has issued an additional 2 100,000 debentures at an average issue price of R152.70 per debenture. After the additional issue there will be 120 477 939 debentures in issue.

________________________________________________________________________

Nine companies issued profit warning announcements

The following companies issued profit warnings this week: Conduit Capital, Santam, MMI, Petmin, Sasfin, Clover Industries, Pioneer Food, Grindrod and Global Asset Management.

_________________________________________________________________________

Eight companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Steinhoff International, Shoprite, Visual International, Mine Restoration Investments, African Media Entertainment, Moneyweb, Cognition and Alert Steel.

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