Markets continue to tread water on Monday as geo-politics continues to dominate the news flow.
Growing claim against Afrocentric
Investment holding group Afrocentric is a popular investment for small and mid-cap investors on the JSE but they should take note of this Moneyweb article which identifies a potential R1bn claim against the business via its Medscheme investment.
Radley joins Transaction Capital
Diane Radley has joined Transaction Capital as an non-executive director. Radley has served as a non-executive director at Altech, Bytes Technology Group, Omnia, and WIPhold. She is currently a non-executive director of Murray and Roberts and Base Resources.Transaction Capital is up 21% over the last 12 months.
Directors exit Erin
Dual-listed oil exploration and energy group Erin Energy announced a number of director resignations on Friday. This included group CEO, Vice President, Chief Administration Officer and a number of non-executive directors.
Brikor shareholders pushback
Brick manufacturer Brikor saw a block of its shareholders voting aganst a number of resolutions at the company Annual General Meeting with shareholders pushing back against the issuing of shares, providing financial assistance to group companies and placing the control of un-issued shares under the control of the directors.
Numerous new lows
Thin liquidity continues to result in selling pressure on small and mid-cap shares on the JSE. The following shares all traded at new 52-weeek lows (intra-day) for the following shares: Silverbridge Holdings, Kaydav, DAWN, Alaris, Omnia, Blue Label Telecoms, Attacq, Super Group, Sibanye, Intu Plc.
There were no new 52-week highs reached on Friday.
Property group Vukile is currently on a debt capital markets roadshow presenting to potential investors. A copy of the presentation is available here for investors to peruse – http://www.vukile.co.za/cmsAdmin/uploads/dmtn-roadshow-july-2018.pdf . Vukile is flat over the past 12 months and trades on a price to earnings multiple of 12 and offers an 8.6% yield.
Sabvest earnings rise
Investment holding group Sabvest has released a positive trading update for the 6 months ended 31 June 2018. The company says headline earnings per share will rise by more than 100% compared to the corresponding period year on year. It has indicated that the Net Asset Value for the share will rise by between 6.2% and 8.2% – from the period ended 31 December 2017 – a figure which would have been higher had the company not paid a special dividend earlier in the year.