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Corporate finance activity of the week

Mara Delta, South32, Sasfin, Life Healthcare, Pioneer Food and others.

Mara Delta to undertake rights offer 

The company is seeking to raise a total of $138.4 million through the issue of 98 892 723 shares at $1.40 per share.

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Tawana Resources to offer shares 

Tawana is to offer shareholders an opportunity to subscribe for 60 million shares at an issue price of A$0.25 per share in a bid to raise A$15 million. The shares are to be issued in tranches of 35.9 million and 24.1 million. ________________________________________________________________________

Masonite (Africa) to delist from the JSE 

The JSE has approved the delisting of the company which has been in voluntary business rescue proceedings since December 2015. The company has confirmed that following the implementation of the business rescue plan the company is now held by Timber Investments One.

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DiamondCorp appoints administrators 

DiamondCorp has, after taking legal advice, concluded that the Group is no longer able to continue trading as a going concern. The suspension to trading in the Company’s shares on AIM and AltX, announced in November 2016, remains effective.

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South32 repurchases shares

The company repurchases 9 183 716 shares for A$25.22 million (R252.17 million).

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Central Rand Gold issues shares

The company has issued 4 200 000 new shares at a conversion price of 0.4 pence to a creditor in lieu of a fee due by the company.

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Listing of additional DivTrax securities

1 898 517 additional DivTrax securities were issued and listed this week at an average issue price of R28.90 per security. Following the listing there will be 7 083 517 securities in issue.

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Listing of additional db X-trackers DJ EURO securities

2 000 000 DBXEU securities were issued this week at an issue price of R49.04 per security. ________________________________________________________________________

Listing of additional Stanlib SA Property securities

80 000 additional Stanlib SA Property securities were issued and listed on May 2 at an undisclosed issue price. Following the listing there will be 1 466 000 securities in issue.

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Listing of additional CoreShares Top 50 securities

142 655 additional Top 50 securities were issued and listed on May 2 at an issue price of R20.89 per security. Following the listing there will be 10 297 655 securities in issue.

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Listing of additional CoreShares Global Property securities

245 019 GLPROP securities were issued on May 3 at an issue price of R32.65 per security. After the securities have been issued and listed, there will be 6 209 097 securities in issue.

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Seven companies issued profit warning announcements

The following companies issued profit warnings this week: Allied Electronics, Sovereign Food Investments, Novus, Coronation Fund Managers, Life Healthcare, Pioneer Food and Renergen.

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11 companies either issued, renewed or withdrew cautionaries

The following companies advised shareholders: Sasfin, Labat Africa, Clover Industries, Advanced Health, Mara Delta Properties, Trencor, Pembury Lifestyle, Hospitality Property, Exxaro Resources, Novus and Hwange Colliery.

DealMakers is SA’s M&A publication. 

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