The Daily Update: 23 March

The latest updates from the JSE and NYSE over the past 24 hours.

South Africa

Transaction Capital Limited- Dealings in securities

• On March 20th, a director of TCP purchased 110 000 shares at an average price of R10.79 for a total value of R1 187 830.02.
• On March 22nd, associates of directors purchased 1 500 000 shares at an average price of R11.70 for a total value of R17 560 800.

Remgro Limited- Results for the six months ended 31 December 2022 and cash dividend declaration

• EPS fell by 19.7% to 701.1 cents.
• HEPS grew by 5.7% to 626.2 cents.
• Intrinsic net asset value per share as at 31 December 2022 was R223.86, up from R213.10 at 30 June 2022.
• Remgro faced challenges such as macroeconomic and geopolitical instability, power supply constraints, slow progress on economic and structural reforms, and rising interest rates.
• Higher contributions from various operations and interest income led to an increase in headline earnings, partially offset by lower contributions from other operations.
• The closing share price on 31 December 2022 was R133.03, representing a discount of 40.6% to the intrinsic net asset value.
• The Board has declared an interim gross dividend of 80 cents per share and will be paid on Monday, 24 April 2023.

Sibanye Stillwater Limited

• Sibanye-Stillwater will provide emergency financial support for New Century Resources
• The support is for up to A$30 million, subject to certain conditions.
• The support is due to the suspension of operations at the Century mine caused by extreme weather affecting Northern Queensland.
• The suspension is estimated to last for 2-3 weeks and will affect approximately 15kt-20kt of zinc metal production.
• Sibanye-Stillwater's takeover bid for New Century was announced on February 21, 2023
• Sibanye-Stillwater's interest in New Century increased to 87.64% as of March 21, 2023.

FirstRand Limited- Dealings in securities

• Hetash Surendrakumar Kellan, a director of the Company, purchased 83 009 shares for a total value of R5 159 009.35.
• Steven Cooper, a Prescribed Officer of the Company, purchased 88 796 shares for a total value of R5 547 990.77.

The U.S.

Microsoft

• Page visits on Bing have risen 15.8% since Microsoft unveiled its artificial intelligence-powered version on February 7th, compared with a near 1% decline for the Alphabet owned search engine.

SpaceX

• SpaceX is planning to raise Billion of dollars in a new round of funding with backing from Saudi and UAE investors.

Ford

• Ford lost $2.1 billion on its EV business in 2022.