The Finance Ghost's weather report on Mpact, PPC, Spar and Cashbuild

A share price overhang is a cloud over a company that leaves uncertainty about what could happen. Naturally, every company faces uncertainty, so we aren't talking about revenue variability here or even the possibility of an unforeseen event. An overhang is a challenge that we know about already that has an uncertain outcome.

At Mpact, for example, a substantial cloud has lifted. The Competition Commission has finalised its investigation into allegations of historical anti-competitive conduct between Mpact and New Era. The great news for Mpact is that the approach of cooperating with the commission and being fully transparent has led to no fine being levied against the company.

The overhang is gone for Mpact and the market doesn't need to panic about the potential for a huge fine. Instead, the market can focus on the unfortunate drop in Heps of between 28.6% and 33.8% for the six months to June, driven by revenue pressure in the paper business.

At PPC, the cloud was far less dark. In fact, it was one of those cute fluffy white ones, admittedly one that can quickly turn stormy up on the Highveld. The disposal of Cimerwa in Rwanda earlier this year was a deal...