CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited (Naspers) (JSE: NPN, LSE: NPSN) The 109th annual general meeting (AGM) of the shareholders of Naspers was held through electronic communication today. Shareholders are advised that all resolutions set out in the notice of the AGM were passed by the requisite majority of shareholders represented at the AGM, including all the resolutions required to implement the proposed transaction to remove the cross-holding structure between Naspers and Prosus N.V. (Prosus) that was announced on Tuesday, 27 June 2023 (the Proposed Transaction). Fur...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers (JSE:NPN) shareholders (Shareholders) are advised that notice is hereby given, in terms of the notice of annual general meeting posted to Shareholders today, on Wednesday, 26 July 2023 (Notice of Annual General Meeting), that the virtual annual general meeting of Naspers (the Annual General Meeting) will be held at 14:00 SAST on Thursday, 24 August 2023, entirely by electronic communication as permitted by the Companies Act 71 of 2008, and by Naspers's memorandum of incorporation. Naspers has retained the services of The Meeting Specialist Pr...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- 1. PROSUS CIRCULAR AND ANNUAL GENERAL MEETING Naspers Limited ("Naspers") (JSE: NPN): Naspers shareholders (Shareholders) are referred to the joint announcement published by Naspers and Prosus N.V. (Prosus) on 27 June 2023 (the Transaction Announcement) regarding Naspers's and Prosus's intention to implement a proposed transaction in terms of which the cross-holding structure between Naspers and Prosus will be removed (the Proposed Transaction). Capitalised terms not defined in this announcement have the meaning given to such terms in the Transactio...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited ("Naspers") (JSE: NPN): 1. INTRODUCTION The board of directors of Naspers (the Naspers Board) and the board of directors of Prosus (the Prosus Board) are pleased to announce that Naspers and Prosus (together with their consolidated subsidiaries, the Group) intend to implement a proposed transaction in terms of which the cross-holding structure between Naspers and Prosus (the Cross-Holding Structure) will be removed (the Proposed Transaction). The implementation of the Proposed Transaction will enable the continuation of the share r...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited ("Naspers") (JSE: NPN): Shareholders are advised that the company’s integrated annual report and annual financial statements for the year ended 31 March 2023 will be available on the company’s website , Tuesday 27 June 2023. The notice, together with the proxy form, of the virtual annual general meeting will be distributed to shareholders at a later date and in accordance with the South African Companies Act 71 of 2008, as amended. The annual general meeting is expected to be held at 14:00 on Thursday 24 August 2023. Dividend Fur...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited ("Naspers") (JSE: NPN): In the second half of the year the group made significant progress in delivery of its strategic priorities, positioning it well for long-term value creation. The ongoing open-ended repurchase programme is creating significant value for shareholders and actions taken in H2 to streamline operations have improved profitablity. The Group has increased confidence in achieving its H1 2025 profit ambition, while continuing to deliver high growth. Headlines Announcement of proposed transaction to simplify the Group...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited ("Naspers") (JSE: NPN): Shareholders are referred to article published on 31 October 2022 by Asian Tech Press. The article claims that a CITIC-lead group (a Chinese stated-owned investment company) is in talks with Naspers to buy all the Tencent shares owned by the Group. The article is speculative and untrue. The Group continues with its open-ended share repurchase programme announced in June this year which is funded by the sale of small numbers of ordinary shares in Tencent Holdings Limited (“Tencent”) held by the Group (“Tencent ...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited (Naspers) (JSE: NPN) The 108th annual general meeting (AGM) of Naspers Limited was held through electronic communication today. Shareholders are advised that all resolutions set out in the notice of the AGM were passed by the requisite majority of shareholders represented at the annual general meeting. The following information is provided in compliance with the JSE Limited’s Listings Requirements: Total issued number of N ordinary shares: 435 511 058 Total issued number of A ordinary shares: 961 193** Treasury shares: 224 863 836 Nu...
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited ("Naspers") (JSE: NPN): Prosus N.V. (Prosus) (Euronext Amsterdam: PRX; JSE: PRX), which is majority owned by Naspers, and a global consumer internet group and one of the largest technology investors in the world, today announced it has entered into an agreement to acquire the remaining 33.3% stake in iFood, from minority shareholder Just Eat Holding Limited for €1.5bn in cash plus a contingent consideration of up to €300m. Following the transaction, Prosus and its affiliate company, Movile (a Brazilian investor in technology companies)...
Today Prosus announced that it will begin an open-ended share repurchase programme of Prosus and Naspers shares which will be funded by on-market sale of Tencent shares. Prosus also announced that it has sold its entire shareholding in JD.com, to raise US$3.67bn, on-market in Jun 2022. In this note, we talk about the implication and timing of today’s announcements.
CAPE TOWN, South Africa--(BUSINESS WIRE)-- Naspers Limited (JSE: NPN) (LSE:NPSN) announced strong revenue growth with profitability in core operations for the year ending 31 March 2022. Building on the prior year’s standout performance, the Group’s ecommerce portfolio delivered revenue growth of 49%1 to US$10.7bn. This growth resulted from strong operational execution and momentum in all ecommerce segments despite the turbulent environment. While the segments demonstrated core profitability, overall trading profit was lower than last year, reflecting investment in scaling the large adjacent o...
On 23rd Dec 2021, Tencent declared a special interim dividend in the form of a distribution in specie of 457.326m Class A ordinary shares of JD.com, making Prosus the third largest shareholder in JD.com with a 4.2% stake. While Tencent went ex-div on 20th Jan 2022, the actual settlement of the distribution only happened on 25th Mar 2022. On that day, the bulk of the stock that Tencent had distributed moved into CCASS with the exception of shares held by Prosus. There was another large moveme...
On 23rd Dec 2021, Tencent declared a special interim dividend in the form of a distribution in specie of 457.326m Class A ordinary shares of JD.com on the basis of 1 Class A ordinary share of JD.com for every 21 shares held by the qualifying shareholders. While Tencent went ex-div on 20th Jan 2022, the actual settlement of the distribution only happened on 25th Mar 2022. We have looked at the background of the possible deal in our earlier note JD.com Tencent distribution - The US$10bn overh...
On 23rd Dec 2021, Tencent declared a special interim dividend in the form of a distribution in specie of 457.326m Class A ordinary shares of JD.com on the basis of 1 Class A ordinary share of JD.com for every 21 shares held by the qualifying shareholders. While Tencent went ex-div on 20th Jan 2022, the actual settlement of the distribution is expected to happen on or about 25th Mar 2022. We have looked at the background of the possible deal in our earlier note JD.com Tencent distribution - Th...
On 23rd Dec 2021, Tencent declared a special interim dividend in the form of a distribution in specie of 457.326m Class A ordinary shares of JD.com on the basis of 1 Class A ordinary share of JD.com for every 21 shares held by the qualifying shareholders. While Tencent went ex-div on 20th Jan 2022, the actual settlement of the distribution is expected to happen on or about 25th Mar 2022. When the distribution is settled it will end up putting pressure on JD.com shares as it will be worth aroun...
The independent financial analyst theScreener just downgraded the general evaluation of NASPERS (ZA), active in the Broadcasting & Entertainment industry. As regards its fundamental valuation, the title loses a star(s) and now shows 1 out of 4 stars. Its market behaviour is also negatively reassessed and may be considered as risky. theScreener believes that this double requalification keeps the title under pressure and justifies an overall rating downgrade to Slightly Negative. As of the analysi...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
On 22nd March 2018, after market close in Hong Kong one of the largest overnight placements was launched. On that day, Naspers reluctantly sold US$10bn worth of Tencent shares. I say reluctantly because Naspers provided a three year lock-up at the time of the deal. That lock-up will expire in a week’s time. We have covered the previous placement in our earlier note, Tencent Placement - Huge Deal in Size, Small in Relative Terms - Succumbing to the HoldCo Discount and spoken about the implicati...
On 22nd March 2018, after market close in Hong Kong one of the largest overnight placements was launched. On that day, Naspers reluctantly sold US$10bn worth of Tencent shares. I say reluctantly because Naspers provided a three year lock-up at the time of the deal. That lock-up will expire next month. We have covered the previous placement in our earlier note, Tencent Placement - Huge Deal in Size, Small in Relative Terms - Succumbing to the HoldCo Discount. In this note, I’ll talk about t...
A director at Naspers Limited bought 882 shares at 3,150.000ZAR and the significance rating of the trade was 66/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
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