In a busy period of corporate news, De Beers reported a recovery in demand for diamonds and Implats continued to struggle with demand for its products. In international news, Japanese software giant Fujitsu has apologized for a scandal in the UK where a software flaw led to hundreds of postmasters being wrongly convicted of fraud, with devastating consequences.
Anglo American, the owner of De Beers, Rough diamond sales in the first sale of 2024 jumped 170% to $370 million (R6.9 billion) compared to the 10th sale in 2023, but were still 18.5% year-on-year. It is said that there was a decrease. “Robust consumer demand for diamonds in the United States during the holiday season has certainly contributed to stabilizing the industry, and the “We see prices rising again.” “Coupled with the resumption of rough diamond imports into India, demand for rough diamonds increased significantly in the first sales cycle of 2024. However, the outlook for economic growth in many major countries remains uncertain and we , it will take time for demand for rough diamonds to fully recover.”
Pepcor CEO Peter Erasmus He has signed a new deal with Africa's biggest retailer Pepcor, which will see him receive a salary while modifying an expensive contract for call options linked to the Steinhoff collapse. Africa's largest retailer by store space announced on Tuesday that a call option contract for up to 120 million shares at a price of approximately 24.92 rans, exercisable in financial year 2025, has been cancelled. This will be replaced by a new instrument, with distributions depending on how much Pepkor's share price exceeds R21 at the end of September 2026. Pepkor is currently valued at approximately R70 billion on the JSE. It trades at around R19 per share. Both contracts are subject to “adjustments that apply in certain limited circumstances” and Mr Erasmus will also receive a salary in line with the group's remuneration policy.
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