Good morning Voornaam
 

I'm not sure why, but Friday was an outrageous day on SENS. I can't recall seeing so many announcements in one day! It can become tricky to choose what to focus on, but I always use this introduction to mention some of the stories that didn't make the cut for full articles.

York Timber CEO Pieter van Zyl sadly passed away recently. The company has announced that CFO Gerald Stoltz has been appointed as the interim CEO until a new CEO is appointed by the board.

Basil Read Holdings is currently suspended from trading as the underlying operations have been in business rescue since March. There will be monthly updates going forward on the progress made by the business rescue practitioners, which Basil Read shareholders must keep an eye on.

Naspers-Prosus have put together a frequently asked questions document related to the share exchange offer. You'll find it here.

Following on from the PGM, iron ore and other businesses, we are starting to see updates from the gold houses. Gold Fields expects headline earnings per share to be 115% - 135% higher than in the first six months of 2020. The gold shares have been recovering in the past month, which makes me happy as a shareholder.

This morning's lead article is Nampak's voluntary update, which drove a 13% share price rally on Friday as the company announced that it is now within the debt covenants that applied before the renegotiation with banks. That's great momentum in the turnaround.

Other updates include Sibanye's ongoing push into battery metals and a pre-close update from EOH, which isn't making the progress with its debt that Nampak is making.

As is customary on a Monday, the latest episode of Magic Markets is here for you to enjoy. In Episode 36, Mohammed Nalla and I discussed the quick-service restaurant sector and the potential disruption from food delivery businesses. This sector has been resilient through the pandemic but the valuation multiples make it risky for investors.

Finally, Chris Gilmour gives you his views on the week ahead and the important political and economic news around the world.

Good luck in the markets today!

The Finance Ghost

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