Top Story | Christo Wiese adamant on R3.5bn Shoprite share scheme
Shoprite founder and chair Christo Wiese is adamant there is no room for negotiation around the terms of a proposed share repurchase scheme that is set to net him R3.5bn.
Wiese’s comments come amid mounting opposition to the proposed 20-million Shoprite shares he will be granted in exchange for cancelling the 265-million deferred shares, which have no financial value but control 32.3% of the group’s votes. These deferred shares have given the retail mogul effective control of Africa’s largest grocer since 2000.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shoprite investors brace for Christo Wiese’s R3.5bn paydayThe keenly awaited transaction is expected to simplify the company’s voting-share structure
Read more »
BUSINESS MAVERICK: Shoprite’s R3.3bn payout proposal to Christo Wiese could easily be voted downWhen a company puts out an announcement involving R3.3bn on a Thursday afternoon before a long weekend, you have to wonder. And that is what the financial community has been doing about Shoprite’s proposal to pay its chairman R3.3bn for high voting-power shares with an actual monetary value of, well, nothing. There are some who think it’s a deal worth doing, but some significant shareholders on Tuesday said, very firmly, they would be voting against the proposal. The deal could very easily fail.
Read more »
Shoprite cuts chairman Wiese's voting influenceBesides ordinary shares, Shoprite’s capital structure includes deferred shares which carry about 32.3 percent of the voting rights at Shoprite.
Read more »
Wives share their stories of being fat-shamed by their husbands in a heartbreaking threadFat-shaming is a serious form of bullying and can impact your perception of yourself years after it happens.
Read more »
Business Maverick: Asian shares up after Nasdaq, S&P 500 hit record highsEquity markets in Asia rose on Wednesday morning after upbeat earnings helped the Nasdaq and S&P 500 indexes reach record closing highs on Wall Street overnight, while oil retreated from its near six-month highs.
Read more »
ISS Today: Investing in the adults of our shared futureInnovating to improve children’s early experiences can be good for business. By Chandré Gould for ISS TODAY.
Read more »
Vodacom, MTN shares fall after Competition Commission finds data too expensiveVodacom and MTN shares fell after one of the competition regulators ruled that the mobile-phone companies overcharge customers for data – particularly those with lower incomes.
Read more »
Higher earnings lead to jump in shares in Brian Joffe’s Long4LifeSince listing in 2017, the group has bought Holdsport’s Sportsmans Warehouse, Outdoor Warehouse and Performance Brands, and Sorbet, Inhle Beverages and Chill Beverages
Read more »