Independent black-owned financial services group Vunani warned on Wednesday that headline earnings per share (HEPS) would decrease by as much as 41.7% for the six months to end-August compared to the prior period, due to a number of rights issues. The pan-African financial services group’s share price was unchanged on Wednesday at R2.80, after it said in a statement the HEPS were expected to be between 6.7c and 9c, or a decrease of between 41.7% and 21.7%. The weighted average number of shares in issue of increased to 156-million in 2017, from 109-million in the prior period. The reasons for the change in the average weighted number of Vunani shares included the acquisition of shares worth R30m by Marcel Golding, as well as the transaction in February of shares related to the 2015 acquisition of investment holding company Fairheads. Golding has taken up a seat on the board. Mandlalux, a subsidiary of Vunani, had acquired 100% of Fairheads in 2015, with cash and shares, as part of a ...
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