Capital Markets

• Lighthouse Properties p.l.c. in Malta offers shareholders a dividend choice between cash and Scrip Distribution.
• Fractional entitlements are handled by rounding down to the nearest whole number, with tax implications considered.
• Shareholders can optimize returns through tax planning, diversification, and strategic reinvestment of dividends.

• SERE’s property portfolio valued at €208.1 million, showing resilience despite a -1.0% valuation decrease in Q1 2024.
• Office assets experienced mixed performance, with St Cloud, Paris, witnessing an increase in valuation due to income growth.
• SERE maintains a strong financial position with a portfolio LTV of 33% gross and 24% net of cash.

• Afrimat Limited’s acquisition of Lafarge South Africa boosts its presence in the construction materials sector.
• The strategic rationale includes diversification, expansion, and entry into new markets like cement extenders.
• Financial implications include increased revenue, improved profit margins, and market share growth in construction.

• Ellies Holdings Limited, a South African company, is discontinuing business rescue and moving towards liquidation.
• The decision reflects severe financial distress, with implications for shareholders, creditors, and employees.
• Factors contributing to the situation include high debt levels, market conditions, and management decisions.

Sappi Southern Africa Limited, a prominent player in the South African market, recently announced a partial capital reduction under its

• Directors of CA Sales Holdings accept options under the Share Incentive Scheme, signaling confidence and alignment with shareholders.
• The options vest in tranches over four years, with a 180-day exercise period post-vesting.
• Regulatory compliance and transparency in these transactions showcase the company’s commitment to governance and investor trust.

• Unbundling of We Buy Cars Holdings from Transaction Capital in South Africa reshapes market dynamics.
• Implications for investors include assessing sector outlook, market dynamics, and financial health of entities.
• Analysts view the move as strategic, potentially enhancing shareholder value and improving market positioning.