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Fri 19 Sep 2025
Close: 17 626c 
Day's move: -124c (-0.70%)
Volume: 1 746 766
Trades: 4 422
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Remgro - trading statement
Shareholders were advised that Remgro's headline earnings per share ("HEPS") for the current period is expected to be between R13.54 and R14.56 compared to the HEPS of R10.18 reported for the year ended 30 June 2024 ("comparative period"), an expected increase of between 33% and 43%.
The increase in headline earnings is driven by improved operational performances from the majority of Remgro's investee companies, lower finance costs, as well as the negative impact of significant corporate actions in the comparative period. More detail to explain the increase in headline earnings will be provided in the Remgro results due to be released on SENS on or about 23 September 2025.
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Remgro - distribution in EMH n ordinary shares
Holders of listed Remgro no par value ordinary shares and unlisted Remgro no par value B ordinary shares ("Remgro Shareholders") were referred to the category 1 transaction announcement by EMH (the "EMH Announcement") and the voluntary announcement released by Remgro ("Remgro Announcement") respectively on the Stock Exchange News Service ("SENS") of the securities exchange operated by the JSE Ltd. ("JSE") on 27 June 2025 regarding a series of transactions proposed by EMH affecting Remgro's shareholding in eMedia Investments (Pty) Ltd. ("EMI") and EMH ("Proposed Transaction").
Remgro Shareholders were advised that, pursuant to the terms of the subscription and share exchange agreement entered into to give effect to the Proposed Transaction ("Transaction Agreement"), the board of directors of Remgro ("Board") has resolved to proceed with a distribution of Remgro's shareholding in EMH ("Unbundling Shares") to Remgro Shareholders ("the Remgro Unbundling").
Key terms of unbundling
Following implementation of the subscription and share exchange in terms of the Transaction Agreement (which is anticipated to occur on 12 September 2025), Remgro will hold 238 472 945 EMH N Shares, constituting 35.000477% of the EMH N Shares and EMH ordinary shares in issue.
Remgro will distribute the 238 472 945 EMH N Shares it holds (the Unbundling Shares) on a pro- rata basis to all Remgro Shareholders as a distribution in specie.
Remgro Shareholders will receive 41.96 Unbundling Shares for every 100 ordinary shares ("Remgro Ordinary Shares") and every 100 class B ordinary shares, respectively, in Remgro (collectively "Remgro Shares") held on the Record Date (as defined in paragraph 10 below).
The Remgro Unbundling will result in Remgro Shareholders holding a direct interest in EMH through the Unbundling Shares, which are listed on the JSE.
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Remgro - acquisition update
The Competition Appeals Court (the "CAC") has ruled to set aside the order of the Tribunal to prohibit the merger. The CAC further ruled to approve the merger subject to the conditions proposed by the merger parties.
Remgro is pleased with this positive outcome, which represents a significant milestone in the fulfilment of the conditions precedent for the Transaction.
The Transaction is still subject to approval by the Independent Communication Authority of South Africa.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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