The small and mid-cap sectors on the JSE continue to receive limited coverage, but there have been some interesting developments this week so we’ve highlighted some of the more interesting developments on our radar:
Capital Appreciation bulks up its board:
We have been following Capital Appreciation for a while now as one of the truly interesting technology / FinTech players on the JSE. The group announced the appointment of Massmart chair Kuseni Dlamini and Errol Kruger (Former bank Registrar) to the board. The board also announced Mathukana Mokoka (PIC and Sanlam) as well as Eitan Neishlos (Managing Director of Resonance Australia, a Capital Appreciation associate) to the board.
Santova delivers again
JSE-listed technology and logistics group Santova has delivered a trading update indicating that it will deliver its 8thconsecutive year of headline earnings per share growth. The share trades on a forward PE multiple of 5 and offers a 2% dividend yield.
Onelogix updates investment community
Logistics group Onelogix did an investment presentation to investment analysts, updating the market around its various operations. The company highlighted its competitive advantage in a number of key local markets. The presentations are available online here.
African Rainbow Capital Investments trading update
The investment holding group released an investment update for the 3 months to the end of March 2018 providing an update on some of its operations. The group currently sits with R1.9bn in cash to be able to deploy. Two noticeable announcements were that its banking asset (TymeDigital) will commence marketing to retail clients in South Africa in third quarter of 2018 and Willem Roos (Ex-CEO of OutSurance) has been appointed CEO of technology infrastructure asset RAIN.
ARC trades at around R6.90/share while the reported NAV is R8.90/share.
Long4Life throws in a dividend
The Brian Joffe backed investment holding group has delivered its first 12 months (technically 11 months) of trading) and surprised the market with a dividend of 5.4c/share. The company sits with R1.7bn in cash for future investments.
Wilderness Holdings moves up
The dual-listed leisure group announced a trading update suggesting that headline earnings will be “materially higher” that the prior year. The share is highly illiquid but is up 11% over the last 30 days.