Absa posts circular for proposed BEE deal

Absa this week said it had posted a circular to its shareholders related to its proposed black economic empowerment (BEE) deal for 7% of its issued share capital after the issuance of new Absa ordinary shares.

The issue of 7% of Absa shares will consist of 4% issued to a corporate social investment trust, and a staff trust will receive 3% of Absa’s issued share capital.

The banking group said it had posted a circular setting out the full terms and conditions of the proposed BEE transaction and including a notice convening an Absa
extraordinary general meeting to be held on June 2.

Astral Foods warns of sharp decline in profits

Astral Foods this week warned investors that it would report a significant drop in profits for the half year ended March.

The company said its earnings per share and headline earnings per share were expected to decline by between 87% and 92% or by 189 cents and 116 cents and 185 cents and 114 cents, respectively, compared to the six months ended March 2o22.

Mine death reported at Harmony Gold mine

Harmony Gold this week announced that one of its employees died at its Kusasalethu gold mine near Carletonville on 30 April.

“A seismic induced fall of ground event results in the loss of life of one of its shift team leaders,” the company said in a statement.


PIC increases stake in Gold Fields by 5%

Gold Fields announced this week that the Public Investment Corporation had increased its stake in the company by over 5.2% percentage points to 15.3% from 10.1%.

By the end of Friday this week, a 5.2% stake in the gold mining company was worth about R14-billion.

Three people died at Impala Platinum mines

This week, Impala Platinum (Implats) announced that it had three fatalities at its mines during the three months that ended in March.

On 4 February, the company said that Abraham Mofokeng died from injuries suffered from the detonation of remnant explosives at Impala Restenburg’s 14 shaft. On 8 February, Henry Raki died at Zimplats’ Mpani mine. On 13 March, Thembile Ngqanji died at Impala Rustenburg 20 shaft, Implats added.

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