Highlights of the day: 6 June

FinMeUp Highlights of the day

South Africa

Alexander Forbes Group - Audited results for the year ended 31 March 2022

• Operating income grew 7% to R3 221 million.
• Operating expenses grew 5% to R2 540 million.
• Profit from operations grew 9% to R720 million.
• HEPS from continued operations grew 19% to 37.2 cents per share.
• EPS grew from 14.3 cents to 39.3 cents.
• The board has declared a dividend of 20 cents per share to be paid on Monday 11 July 2022.

Renergen Limited- US$500 Million Debt Retainer Letter Signed for Phase 2 Operations at Virginia Gas Project

• Renergen have announced that they have signed a Retainer Letter with the US International Development Finance Corporation, to evaluate making a loan of up to US$500 million to finance the development of Phase 2 of helium and natural gas operations at the Virginia Gas Project.
• The US International Development Finance Corporation previously provided US$40 million for phase 1 of operations.
• Renergen and The US International Development Finance Corporation will now conduct further analysis including on-site diligence.
• Furthermore, other lenders would like to co-lend alongside the US International Development Corporation, which will exceed the remaining debt requirement.

U.S.

Twitter

• Twitter have announced that its HSR waiting period for the companys planned $44 billion sale to Elon Musk has expired. 
• What is the "HSR"? Hart-Scott-Rodino antitrust law gives fed government a period of time to review a proposed deal in excess of some size to decide whether feds concerned about anti-competitive or monopolistic issues arising from proposed deal.
• This means that the deal with Elon Musk has cleared the US anti trust review.

Meta

• As the Metaverse slowly becomes a reality, VR headset adoption is expected to increase.
• Goldman Sachs estimate that there will be 33.7 million VR headsets units shipped in 2025. In 2021, there were just 9.3 million.

General Motors

• General Motors Cruise receives its first permit in California to charge for driverless rides.

Twitter

• Elon Musk delivered a letter today to Twitter "reiterating his request for certain data and information necessary to facilitate his evaluation of spam and fake accounts".

Nancy Pelosi

• Nancy Pelosi filed for her purchase of calls in Microsoft and Apple worth at least $1 Million according to CongressTrading.

DiDi

• China to lift the ban on new DIDI users.
• $DIDI was up 66% in pre-market trading.