Activist investors are not impressed at RMH’s unbundling plan – which seems to favour hasty sales at the expense of shareholder value.
It seems illogical for shareholders in one of the JSE’s best capital allocators, innovators and value creators to allow management to sell prize assets at a deep discount to their stated value — and get rewarded in the process.
Weird indeed. But this is one interpretation that investors might draw from the recent AGM of RMB Holdings , at which a shareholder activist protested that “we seem to be getting the worst of all worlds”. At the same time, opportunistic investors might be able to cash in on this market cynicism. ..
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