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Corporate finance activity of the week

Coal of Africa to issue shares, Schroder Reit lists on JSE, results of ADvTech’s rights offer.


Results of ADvTech’s Rights Offer


ADvTech has successfully raised R850 million through the placing of 75,555,556 new shares at a subscription price of R11.25 per share. __________________________________________________________________________


Listing of additional LowVolTrax Securities

50,000 additional LowVolTrax securities were issued on December 7 at an issue price of R28.60 per security. _________________________________________________________________________


Coal of Africa to issue shares


CoAL has entered a subscription agreement with M&G Investments for an amount of $3 million at a subscription price of $0.0435. The funds represent the final element of the financing required by CoAL for its offer to acquire Universal Coal.



Listing of additional DivTrax Securities

100,000 additional DivTrax securities were issued on December 7 at an issue price of R26.10 per security. _________________________________________________________________________


Oasis Crescent Property Fund issues shares


Oasis issued 2,296,056 new shares on December 7 as payment for 265 Victoria Road (R24 million) and 24 Milner Road (R18,5 million). The shares were issued at a price of R18.51 per unit.



Results of Wescoal’s combined Claw-Back and Rights Offer


The company will issue 31,383,732 new Wescoal shares at R1.32 per share, representing 63.99% of the offer shares. Shareholders applied for 1,080,702 shares and Simeka Capital, pursuant to its R40 million subscription commitment, will be issued with 30,303,030 new shares.



Results of Dipula Income Fund’s scrip distribution alternative


Dipula has issued 2,455,710 new B ordinary shares to shareholders electing not to receive a cash dividend resulting in retention of R25,86 million.


Repurchase of shares by Brimstone Investment


The company has announced the repurchase of a further 1,331,620 ordinary shares representing an additional 3.11% of Brimstone’s issued share capital. The shares were repurchased at a price of R13.00 for a total value of R17.3 million.



Listing of additional NewFunds Momentum ETFs

100,000 additional NewFunds Momentum ETFs were issued on December 10 at an issue price of R27.59 per security. _________________________________________________________________________


Repurchase of shares by Hulamin


The company has announced the repurchase of 127,709 shares on December 9 at an average price of R5.21. The repurchase is in terms of the company’s Long Term Incentive Plan – 2007 and the Share Appreciation Right Scheme – 2007.



Listing on the JSE


Schroder European Real Estate Investment Trust listed on December 9 in the ‘Equity Investment Instrument’ sector of the JSE. 107,500,000 shares issued closed the day at R21.60 per share giving the company a market cap of R2,32 billion.


Profit warning announcement

The following company issued a profit warning this week: Anglo American.



Five companies either issued, renewed or withdrew cautionaries


The following companies advised shareholders: Global Asset Management, Delta Africa, Tradehold, Huge Group and Labat Africa.


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