Corporate Updates

Corporate Updates

Anglo American:In its results for FY12, the mining company stated that its revenue dropped to $32.79bn from $36.55bn recorded in the previous year. It reported a loss of $1.19/share compared to EPS of $5.10 posted a year ago, hurt by a $4.00bn write-down from the value of its Minas-Rio iron-ore project in Brazil. The company also announced a probable ore reserve totalling 1.45bn tonnes for the Serra do Sapo area of the Minas-Rio project in Brazil.

Pioneer Food Group Limited:In its trading update for four months ended 31 January 2013, the food company announced that its revenue rose 12.0% to R9.82bn, while volumes increased between 3.0% and 5.0%.

Petmin:The mining company, in its trading update for 1H13, announced that it expects headline EPS and EPS to be approximately 5.20c, lower than 8.15c each reported in the corresponding period last year. The company expects pre-tax profit to be around R30.00mn.

Pan African Resources:The mining company announced that has it has fulfilled the last remaining condition necessary to undertake an unconditional acquisition of Evander Gold Mines Limited from Harmony Gold Mining.

Zeder Investments:The company announced that its wholly owned subsidiary, Zeder Financial Services Limited, has disposed of a total of 133.30mn shares in Capevin Holdings Limited for a total disposal consideration of R799.80mn.

Paramount Group acquires Industrial & Automotive Design South Africa:Paramount Group, Africa’s largest privately owned defence and aerospace company announced the acquisition of South African-based specialist design and engineering firm, Industrial & Automotive Design South Africa, in a move that will bolster the company’s world-leading land systems capability.

De Beers invests R20.00bn in new underground mine:De Beers, the largest producer of rough diamonds by value, is spending R20.00bn building an underground mine at its aging open-cast Venetia mine - the company’s largest investment in South Africa.

Woolies results ‘pretty phenomenal’:Woolworths hopes to entice new customers into its stores by introducing larger varieties of product categories and bulk value buys in its stores, meaning the battle for the trolley between the upmarket retailer and rival Pick n Pay is about to get fiercer.

Thank you Anchor Capital

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