REMGRO has offered qualifying GRINDROD shareholders the non-renounceable right to purchase GRINDROD shares in a claw-back offer, which opened today. The company said this followed the successful equity capital raising of R2.4bn, which included an accelerated book-build offering to qualifying investors on May 9. REMGRO said qualifying shareholders would be given the opportunity to repurchase… Read more »

REMGRO yesterday reported a 126.6% y/y rise in HEPS to 712cps, while headline earnings rose by 126.2% to R3.657bn in the HY to end-Dec. The company noted that, during the previous comparable period, MEDICLINIC had incurred material once-off charges relating to the comprehensive refinancing of its Swiss and South African debt. REMGRO’s share of these… Read more »

REMGRO chair JOHANN RUPERT yesterday lashed out at the government, noting that corruption, interference with the courts and red tape that curtailed business growth were insults to the citizens of South Africa. RUPERT told the group’s AGM that he did not know how people started up companies in SA given the levels of corruption and… Read more »

REMGRO on Friday said it has resolved all three of the tax disputes it has with SARS. Two of these disputes, amounting to R1.158bn, involved a potential secondary tax arising from the buy-back and cancellation of treasury shares in the HY to end-Dec. The third dispute, totalling R755m, related to the disposal of investments. Both… Read more »

REMGRO yesterday said FY profit rose 66% as banking and health care assets delivered higher earnings. Net income was R6.92bn in the FY to end-Jun., up from R4.18bn y/y. Revenue increased 50% to R24.62bn, while the dividend was raised by 12% to 389cps. Shares in REMGRO closed up 0.42% at R244.50 on the JSE yesterday…. Read more »