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Corporate finance activity of the week

Mpact, Netcare, Royal Bafokeng Platinum, Taste, Ecsponent and others.

Echo Polska Properties in equity raise

The company has raised R2.2 billion on strong demand through the placing of 118 918 918 shares at a price of R18.50 per share. The shares will trade on the JSE and LuxSE from April 13.

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Hosken Consolidated Investments repurchases shares

The company has repurchased 2 688 000 HCI shares from the HCI Foundation at R140 per share. The aggregate purchase consideration is R376.32 million.  

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Results of Mpact’s scrip distribution alternative

Mpact has issued 2 396 891 new shares in terms of its scrip distribution alternative resulting in the retention of R72.87 million.

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Royal Bafokeng Platinum to list bonds on the JSE

The JSE has granted the platinum mining company approval to list R1.2 billion 7% senior secured convertible bonds with effect from April 20. The bonds will include 120 000 units of R10 000 each and will mature on March 16 2022.

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Taste to offer shares

Taste is to offer shareholders an opportunity to subscribe for shares by way of a claw-back offer. A total of 80 000 012 shares will be offered at a claw-back price of R1.50 per share. 

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Long4Life to list on the JSE

The JSE has granted the company a listing of 405 000 100 ordinary shares in the Financial Services – Specialty Finance sector of the main board. The company will list on April 7 2017. R2 billion in capital will be raised prior to listing.

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Brimstone Investment to subscribe to Long4Life shares

The company will subscribe for 40 000 000 new ordinary shares in Long4Life prior to its listing at R5.00 per share. This represents a 9.88% stake.

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Alert Steel to be liquidated

The business rescue practitioner of the company has decided that there are no prospects to rescue the company and so will bring an application for its liquidation.

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Astoria Investments to repurchase shares

The company intends to repurchase up to 6 327 000 shares constituting 4.99% of the issued share capital of Astoria at a maximum price of R11.66 per share. 

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Ecsponent issues additional preference shares

Ecsponent has, under its R5 billion preference share programme, issued additional preference shares valued at R42.32 million.

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Listing of additional CSEW40 securities

40 000 additional CSEW40 securities were issued and listed during the week at an average issue price of R48.30 per security. Following the listing there will be 6 705 000 securities in issue. ________________________________________________________________________

Listing of additional DivTrax securities

50 000 additional DivTrax securities were issued and listed on April 5 at an issue price of R28.05 per security. Following the listing there will be 4 985 000 securities in issue.

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Listing of additional PrefTrax securities

150 000 additional PrefTrax securities were issued and listed on April 5 at an issue price of R9.14 per security. Following the listing there will be 45 575 000 securities in issue.

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Listing of additional PropTrax Ten securities

150 000 additional PropTrax Ten securities were issued and listed this week at an issue price of R20.55 per security. Following the listing there will be 14 175 000 securities in issue.

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Listing of additional CoreShares S&P 500 securities

300 000 CSP500 securities were issued this week at an average issue price of R32.20 per security. After the securities have been issued and listed, there will be 10 019 799 securities in issue.

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Listing of additional NewGold debentures

NewGold has issued an additional 1 100 000 debentures at an average issue price of R158.55 per debenture. After the additional issue there will be 122 077 939 debentures in issue.

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Listing of additional Satrix Property securities

100 000 securities were issued at R21.84 per security. After the additional issue there will be 1 571 525 Satrix Property securities in issue.

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Five companies issued profit warning announcements

The following companies issued profit warnings this week: Netcare, Astral Foods, Orion Real Estate, Life Healthcare and Zeder Investments.

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Nine companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Finbond, enX, Extract, Hulisani, Alert Steel, Accentuate, Mine Restoration Investments, African Media Entertainment and Moneyweb.

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