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The Daily Update: 7 February

March 4, 2024
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FinMeUp
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FinMeUp

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

 

South Africa

Santova Limited- General repurchase of shares

  • Santova has repurchased 4 109 908 ordinary shares, representing 3.0% of the Companys issued share capital.
  • The total value of the shares repurchased was R31 928 136.08.

Renergen Limited- Changes to the board

  • Mr Alex Pickard and Mr Francois Olivier will step down as non-executive directors of the Company with immediate effect because Renergen is now producing both LNG and liquid helium.
  • Ms Thembisa Skweyiya and Mr Dumisa Hlatshwayo have been appointed as independent non-executive directors of the Company with immediate effect.

Sasol Limited- Trading statement

  • EPS is expected to be between R21,55 and R23.98, representing a decrease of between 0% and 10%.
  • HEPS is expected to be between R29.84 and R31.36, representing an increase of more than 95%.

Renergen Limited- Accelerated Bookbuild Offering

  • Renergen is selling 4 600 000 new shares to institutional investors through a process called an accelerated bookbuild and represents 3.2% of the company's existing shares.
  • The sale will be conducted by Standard Bank of South Africa Limited and will happen immediately after the announcement.
  • The shares will be sold in accordance with the company's existing authority to sell shares for cash, which was granted at the annual general meeting in June 2022.
  • At 15:30, Renergen announced that the placement of 4 600 000 newly issued ordinary shares in the authorised but unissued share capital of the Company was successful.
  • The placing shares were issued at R24.00 per placing share.
  • The reason for the accelerated bookbuild offering is to raise funds required for phase 2 of the Virginia Gas Project.

 

The U.S.

Google

  • Google has confirmed that it is working on a ChatGPT competitor named Bard.
  • Bard is currently in beta testing.

Roblox

  • Cathie Wood and Ark Invest bought 130,100 more shares of Roblox today.

Pinterest Earnings

  • EPS of $0.29 beating expectations of $0.27.
  • Revenue of $877M missing expectations of $887M.
  • Pinterest has also announced the authorization to repurchase up to $500M over the next 12 months.

Meta

  • Meta is planning to revamp its Horizon Worlds metaverse app, seeking to draw in more teen and young-adult users after working to improve the services design.
  • The new strategy includes opening up Horizon to teens aged 13 to 17. 
  • The app is currently available to people 18 and older. 
  • A teen launch for Horizon could happen as soon as March.

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