It was another day of sustained selling on the JSE with the All Share Index down 2% despite a weaker Rand.
These were some of the small and mid-cap stories from the JSE on Tuesday:
Shareholders push 4Sight board
It has been the easiest of starts for technology group 4Sight Holdings with the share down 57% since listing. It’s first Annual General Meeting also saw shareholders giving them some gears with a block of shareholders abstaining against a number of resolutions including the approval of financial statements, the re-appointment of Geoffrey Carter to the board and audit committees, the re-appointment of the auditors and 75% of the shareholders voting against the re-appointment of Conal Lewer-Allan.
Tawana investor presentation available
The dual-listed resource stock is currently on a roadshow in North America and has released a link to a presentation that it is showing potential investors. The presentation can be found here – https://tawana.com.au/category/presentations/
Advanced Health slides
Shares in Advanced Health slid 7% on Tuesday. The company announced that it had seen its stake in its Australian operation (Presmed Australia) diluted by 3.8% following a new capital raise. Advanced Health shares are down 50% year to date.
Ayo shares jump
Trading in the technology group continues to be volatile with the share up 9% (on 64 shares changing hands at R33.99/share). The company – which has been under scrutiny recently – released the results of its AGM. Only 52% of shareholders voted at the AGM and 35% of those voted against the issuing of shares for cash and the remuneration policies of the business.
Attacq appoints interim CEO
The property group announced an update to its management function with former CFO Melt Hamman being appointed the interim CEO. Raj Nana moves from Chief Investment Officer to CFO and COO Jackie van Niekerk has joined the board. Shares in Attacq have been stable in 2018, rising 5.9% with the company trading on a forward price to earnings multiple of 19.
Shares in the retail operator initially fell before rising 3.3% after the release of full-year results. The company indicated that it is cutting its dividend to pay down debt. Brait now reports a Net Asset Value (NAV) of R57.32/share and closed trade at R38.50.
Pan African Resources rises
Shares in the gold miner were up a further 4.6% to R1.46 in Tuesday trade. The company announced that the Public Investment Corporation had upped its stake from 5.1% to 6.1%.