Highlights of the day: 6 June

April 21, 2024

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.




  • 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.


  • 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.


  • 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.


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

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