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30 January 2020
Hello Voornaam,

Long-suffering Tongaat Hulett shareholders may soon be able to decide for themselves - eight months after the sugar producer suspended trading in its shares as it sorted out accounts that were in disarray. Between last January and the time it stopped trading on 10 June, its shares had already shed 76% of their value as issues with its financials and possible accounting fraud came to the fore. It's now talking to the JSE to have the suspension lifted following the release of its interim results tomorrow. It's going to report a loss, but not quite as bad as the loss that appears in its restated 2018 accounts.

Another share that has done particularly badly is Tiger Brands. CEO Lawrence MacDougall has had a lot to deal with since he took the top job in 2016, not least of all the listeriosis outbreak of late 2017 and early 2018 which took its share price from above R470 in January 2018 to just above R200 two years later. He won't see a class-action lawsuit against the company through to its conclusion though. That will be left to Noel Doyle, who replaces him when he retires at the end of the month.

Meanwhile, Finbond has decided to buy back some of its shares, which it believes are undervalued following a 35% slide last year.

More on those stories to follow, along with the results of Renergen's share placement as it moves forward with its Virginia Gas Project in the Free State and Ellies' decision to sell some of its investment properties as it tries to return to sustainable profitability.

Finally, with the tax year drawing to a close, we take a look at how you can balance your retirement annuities with Section 12J investments, which can be used to reduce taxpayers' income tax or capital gains tax liabilities. Follow this link for more.

I hope you have a good day.

Stephen Gunnion

Managing Editor, InceConnect


Todays Latest Headlines

Tongaat ready to trade again
The sugar producer and land owner says its suspension may be lifted next week, giving investors time to absorb its latest financials.
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Insider takes top position at Tiger
Noel Doyle will have to deal with the sale of Enterprise Foods and a class action lawsuit following the 2017 listeriosis outbreak.
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Renergen misses equity-raise target
The emerging gas and helium producer says it is happy with the support it received and now owns 100 percent of its Virginia Gas Project.
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Time to start balancing RAs with 12Js
For individual taxpayers, retirement annuities (RAs) and Section 12J investments (12J investments) are effective annual investment options that allow taxpayers to reduce their income tax or...
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Finbond plans to repurchase cheap shares
The mutual bank and lender says buying back undervalued shares makes good use of its excess liquidity.
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Ellies sells property ahead of results
The consumer and commercial electronics manufacturer is expected to release its interim results by tomorrow.
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