Your daily SENS snippets. (Graphic created by Neesa Moodley using Nano Banana Pro and Canva) 
Labat
Bye-bye weed, hello wires – Labat is selling 100% of CannAfrica and is officially ditching cannabis and healthcare to focus fully on ICT, micro-electronics, digital logistics and AI tech.
Small cap, spicy deal – CannAfrica is being sold for R8-million, which is about 15.5% of Labat’s market value, and the cash will help keep the lights on and fund its new tech-focused turnaround plan.
No shareholder soap opera – The sale counts as a Category 2 deal, so no shareholder vote is needed. Once all approvals are ticked, CannAfrica’s shares move to the buyer, and Labat walks away from the cannabis game.
Oceana
Big fish swaps hands – Brimstone is selling 11.95 million Oceana shares to Marine Edge Capital, a new investor that’s 51% black owned and already active in the fishing game.
One giant, one newcomer – After the deal, Brimstone’s stake drops from 25.2% to 16%, while Marine Edge will own 9.2% of Oceana – so Brimstone is still a big player, just a slightly smaller one.
Paperwork with the ref – Because these are big chunks of shares, Oceana must notify the Takeover Regulation Panel and then tell shareholders once the official forms from Brimstone and Marine Edge arrive.
Sappi
Two paper giants, one big club – Sappi and Finland’s UPM want to bundle most of their European graphic paper businesses into a brand-new company they’ll each own 50/50. It’s still just a signed “intent” letter for now, with the real deal only expected to be signed and closed during 2026 if all regulators and shareholders approve.
Less dying paper, more future focus – Graphic paper (like magazine and ad paper) is in long-term decline, so the joint venture aims to shut extra capacity, boost efficiency and save at least €100-million a year. For Sappi, it’s a big step in its “Thrive” plan: shrinking old-school graphic paper to under 20% of its sales so it can focus more on higher-growth products.
Cash now, debt diet later – Sappi’s contribution is valued at €320-million; it will put in several European mills plus liabilities and, in return, get 50% of the new company and €139-million in cash. That cash is earmarked to pay down debt. Because the deal is large (over 30% of Sappi’s market value), shareholders will get a circular and must vote it through. DM