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South African Stocks: Basil Read, RMB Holdings, SacOil, Sallies

March 4 (Bloomberg) -- South Africa’s FTSE/JSE Africa All Share Index fell 13.06, or less than 0.1 percent to 32,337.06 at the 5 p.m. close in Johannesburg, paring its advance this week to 1.2 percent.

The following are among the most active stocks in the South African market today.

Basil Read Holdings Ltd. (BSR SJ), a construction company, gained for the first time in four days, adding 5 cents, or 0.5 percent, to 10.25 rand. The company said it agreed to sell all its shares in and claims against Basil Read Contracting Ltd. for 91.2 million rand ($13.2 million).

Distribution & Warehousing Network Ltd. (DAW SJ), a hardware supplier, declined 79 cents, or 10 percent, to 7.11 rand, the lowest intraday level since December 2009. The company said it expects per-share earnings to fall as much 60 percent in the first half through December, compared with the same period in 2009.

RMB Holdings Ltd. (RMH SJ), an investment holding company, snapped three days of losses, jumping 50 cents, or 1.3 percent, to 38 rand. Today is the last day to trade in the company’s shares on the JSE in order to participate in the unbundling of its interest in RMI Holdings, before the latter is listed on the exchange.

SacOil Holding Ltd. (SCL SJ), the oil and natural gas explorer that is developing oil wells in Nigeria and the Democratic Republic of the Congo, jumped to the highest level since August 1997, climbing 14 cents, or 6.5 percent, to 2.30 rand. Total SA has agreed to buy 60 percent of oil Block 3, partly owned by the South African explorer in Congo. Oil also headed for a third weekly advance on concern political unrest that has curbed crude production and exports in Libya will spread across the Middle East.

Sallies Ltd. (SAL SJ), the fluorspar producer, fell to its lowest level in a week, dropping 1 cent, or 4.8 percent, to 20 cents. Sallies said its loss for the first half through December widened to 33.8 million rand, from 27.6 million rand a year earlier. Sallies said it doesn’t expect that sales of sufficient magnitude will be achieved during the remainder of the current fiscal year to eliminate the losses made to Dec. 31.

The company has adequate cash resources to meet its commitments “until at least the end of 2011,” Sallies said. The company also renewed a cautionary notice, saying a previously announced transaction remains conditional.

Sentula Mining Ltd. (SNU SJ), a coal mining company, climbed the most since Feb. 28, adding 7 cents, or 2.4 percent, to 2.98 rand. The company said it entered into talks that may have a material effect on its share price.

To contact the reporter on this story: Sikonathi Mantshantsha in Johannesburg at smantshantsh@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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