Brait gets nod for hefty recap, US puts R3.3bn towards bird flu vaccine

In a slow day for corporate news, Brait shareholders have given the nod for a hefty rights issue, while Sibanye has concluded its latest round of gold job cuts. In international news, the US government has awarded $176 million to Moderna to advance development of its bird flu vaccine as outbreaks hit dairy herds.

The move comes as the group rethinks plans to exit its about R15-billion portfolio of assets by the end of 2024 as it looks to unlock value for its shareholders, saying recently this capital raise will allow it to buy time to maximise value creation. The group's shares were up about 2% on Tuesday afternoon but have lost more than two-thirds of their value in the past year.South Africans need to be in the know if we want to create a prosperous future.

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