Company news in brief
Oryx expects profit boomLocally-listed Oryx Properties expects its profit for the period ended 31 December 2023 to be more than 30% higher than that of the previous financial year.
In a trading statement on the Namibian Stock Exchange (NSX) today, the group said it also anticipates earnings per share (EPS), net asset value (NAV) and distributable income to be between 10% and 30% more than the previous corresponding period.
Oryx is expected to release its latest annual results this week.
SBN Holdings flags huge profit growth
Locally-listed SBN Holdings expects profit after tax for the year ended 31 December 2023, to exceed the previous period by approximately 18% to 28%, the group said in a trading statement on the Namibian Stock Exchange (NSX).
Consequently, both earnings per share (EPS) and headline earnings per share (HEPS) for the same period are expected to surpass the prior year's figures by around 18% to 28%, amounting to between 140 and 152 cents per share, compared to the previous period's reported 119 cents per share.
The group latest annual results are expected on or around 14 March.
Sylla joins gold hunt in Namibia
Sylla Gold Corp., a Canadian junior gold exploration company, has entered into a share purchase agreement with Namibia Critical Metals Inc. to acquire four gold prospective properties encompassing 2 788 km², located within the Central Namibian Gold belt.
Sylla is to acquire a 95% interest in NMI’s Namibian subsidiary that own the rights, title and interest to Grootfontein, Erongo, Otjiwarongo and Kaoko licences.
The transaction includes a cash payment of N$1.9 million.
Commenting on the deal, Sylla president and CEO Regan Isenor said the company “is very pleased to acquire such an extensive land package of prospective ground in a truly emerging gold district”.
“The Central Namibian Gold Belt continues to produce world class gold operations, as well as new discoveries and we’re looking forward to unlocking the value in these licences by applying some of the knowledge gained from the recent discoveries in the district,” Isenor said.
Canal ups buyout offer for MultiChoice
French media giant Canal has increased the price it is offering to DStv owner MultiChoice's shareholders by about 19% to R125 per share.
The companies said in a joint statement yesterday morning, a day after Canal said it was granted an extension to April to make a mandatory offer, that the European company had also been granted customary exclusivity as the new offer is considered.
An earlier non-binding offer of R105 per share in February was rebuffed by the board of Africa's biggest pay-TV operator as too low.
This effectively values MultiChoice at over R55 billion on the JSE. In morning trade MultiChoice was up 5% to R114.45, giving it a market value of about R50.6 billion. The shares have jumped by about half since the beginning of February.
"Once the mandatory offer is made, the independent board of MultiChoice will be constituted and will, after receipt of the independent expert's opinion, provide its opinion and recommendation on the mandatory offer," the parties said yesterday. – Fin24