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May 2018
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Posts Tagged ‘share price’
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April 20, 2018

WATCH: What the Old Mutual split means for investors

Old Mutual released its full-year results on Thursday, boasting of a 22% increase in pre-tax profit as it prepares to split its business units.

Group CEO Bruce Hemphill said Old Mutual Wealth, along with Old Mutual Limited, would be listed in London and Johannesburg once the separation was complete. But Hemphill gave no indication of when the listings would take place, saying Old Mutual would play its cards close to its chest.

Hemphill spoke to Business Day TV about the group’s full-year results and gave some more detail on the numbers.



Source: [...]

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February 26, 2018

Major windfall for Clicks workers

JSE-listed retail healthcare group Clicks’ workers are set to receive a major windfall of R1.27billion after selling up to 7642904 Clicks Group ordinary shares at R166 a share.

Shares are held by 6814 employees, with black employees holding 87percent of the shares and women 64percent. Pharmacists comprise 5percent of the employee stock ownership plan (Esop) beneficiaries. Participating employees receive a cash dividend annually, equal to 10percent of the total dividend paid to ordinary shareholders each year.

The Clicks Group Employee Share Ownership Trust (Esop Trust) disposed of the shares to unwind 50percent of the scheme.

“The Esop Trust is pleased to [...]

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February 15, 2018

Is Capitec Another Steinhoff? Not Quite.

The South African market was shook on Tuesday when Viceroy Research released a damning report that claimed that Capitec bank “is a wolf in a sheep’s clothing and a loan shark”. Viceroy also said that the reserve bank and finance ministry must immediately place the bank under curatorship. Capitec stock fell by about 20% as a result. The group played a role in bringing to light the financial mismanagement of the Steinhoff Group last year. But what does all of this mean? The Daily Vox spoke with Michael Porter, a trader at Unum Capital to make sense of it all.

Firstly, who is Viceroy Research?

Viceroy Research is a now well-known firm that published an explosive report on [...]

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