The Lewis Group said 58 of its stores were looted and damaged last week during the widespread violence and looting in KwaZulu-Natal and parts of Gauteng.
Ascendis Health said yesterday that it had reached a deal to sell its Ascendis Animal Health division for R770. 19 million as it ramps-up the disposal of non-core assets to reduce its unsustainable debt levels.
The company said its manufacturing plant had been impacted by the looting and riots last week, but had not been burnt down, as some reports suggested.
The group declared a dividend of 100 cents a share in its result in May.
Richemont reported a strong first quarter of its 2022 financial year with 129 percent sales growth in the three months to end June boosted by the performance of jewellery maisons and the specialist watchmakers.
Retailers are starting to count the cost of the impact of the past week’s looting and violent protests that ravaged their outlets in KwaZulu-Natal and parts of Gauteng.
Tiger Brands said yesterday that it estimated at more than R150 million the loss of stock because of civil unrest, looting and vandalism to its property in KwaZulu-Natal and Gauteng.
Liberty Holdings’ share price leapt to a year-high of R85 a share on the JSE yesterday morning after Standard Bank announced its intention to buy the shares that it does not already own in the financial services group for about R11 billion.
The South African insurance industry is bracing itself to receive a number of claims in the coming days, which could potentially amount to billions of rand following the unrest and riots that have damaged a number of businesses across the country, particularly in Gauteng and KwaZulu-Natal provinces.
The South African banking industry has sent a strong message condemning the violence that has gripped South Africa as the country’s top banks have closed hundreds of their banking branches to limit the damage to their property.
Mpact said yesterday it has been informed by the Competition Commission that Caxton and CTP Publishers and Printers had not been granted a merger notification that would pave a way for it to acquire Mpact.
The South African Special Risks Insurance Association (Sasria) said yesterday that South Africans need to be vigilant in safeguarding themselves and their possessions, and should ensure they have adequate cover against civil unrest.
Tongaat Hulett’s share price leapt by 8 percent on the JSE yesterday morning after the agriculture and agri-processing group reduced its net debt by 42 percent for the year to the end of March, despite a huge fall in earnings.
Renergen, the natural gas and helium producer, said yesterday that it had made another discovery of helium as high as 1. 9 percent in the P12 well at its Virginia Gas Project in the Free State.
Prosus said on Friday that 53. 35 percent of its shareholders approved its voluntary share exchange offer with parent company Naspers during the extraordinary general meeting (EGM).
Transaction Capital has raised R1. 7 billion through an accelerated bookbuild by issuing 33. 09 million new ordinary no par value shares at a price of R35. 50 a share, with the proceeds expected to be used in part to finance the acquisition of a controlling stake in WeBuyCars.
Mediclinic International said on Friday that the current third wave in southern Africa was exceeding previous admissions to its facilities due to the impact of the Delta variant, and hospitals were under severe pressure.
Prosus, the international internet assets division of South African multinational Naspers, said yesterday it had priced three tranche bonds for an aggregate principal amount totalling $4 billion (R57. 43 billion) amid a favourable market backdrop to raise funds for general corporate purposes.
Zeder Investments says that good agricultural conditions had contributed to improved performances across its portfolio, but warned shareholders to continue exercising caution when dealing with its securities as it continued negotiations with third parties interested in acquiring some of its investee companies.
Schroder European Real Estate Investment Trust (Reit) said yesterday it had reinstated its quarterly dividend to its pre-Covid-19 levels because of an improving outlook, valuation resilience and a return to healthy rent collection during the six months to the end of March.
Steinhoff International rose more than 21 percent on the JSE yesterday after the troubled retailer said it had been informed by the Amsterdam Court of Appeal that Hamilton had withdrawn its appeal.
Imbalie Beauty has entered into a written sale of shares and claims agreement with iBloom to sell all of its shares and claims in its subsidiaries for a cash consideration of R7. 63 million.
EOH Holdings plummeted more than 15 percent during intra-trade on the JSE yesterday before recovering to close 4. 60 percent lower at R6. 85 after the company received information from the State Information Technology Agency (Sita) that it would recommend its blacklisting from doing business with the state.
Sun International yesterday announced the appointment of Sam Sithole as its new chairperson while the group navigates the choppy Covid19 environment.
Labat Africa yesterday widened its half-year loss by more than 50 percent, hurt by the cash drain from its Force Fuel retail business and the Covid-19 outbreak, but was looking forward to greener pastures as it transitions to the cannabis healthcare sector.
