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Stellenbosh-based investment group PSG [JSE:PSG] – via its agribusiness subsidiary, Zeder Investments [JSE:ZED] – may have given up its stake in KWV Holdings but that doesn’t mean the group is off the hard tack. Directors’ dealings show Jan Mouton – son of PSG [JSE:PSG] founder and prime mover Jannie Mouton – spending more than R3m to snap up around 40 000 of the rather hard-to-come-by Capevin Investments shares on behalf of the PSG [JSE:PSG] Flexible Fund.
Jan Mouton, who was appointed to the Capevin board in mid-2009, manages the PSG [JSE:PSG] Flexible Fund – which has a bit of a cult following among unit trust investors.
Capevin is a holding company with a sizeable (indirect) stake in listed liquor giant Distell Group [JSE:DST]. Capevin has no operations of its own and merely collects the generous dividend tots from Distell Group [JSE:DST]. Due to its holding company nature, Capevin often trades at a substantial discount to its underlying investment – which might explain why Mouton is picking up shares on behalf of the Flexible Fund.
It’s not the first time Mouton has bought Capevin shares on behalf of the Flexible Fund. In September and October last year the fund spent almost R6m buying Capevin shares at prices that ranged between 8200c and 8500c. Perhaps it’s time someone made a little tally to see exactly how big a stake the larger PSG [JSE:PSG] Group holds in Capevin…
While Jan Mouton was delving into Capevin stock, his father Jannie was taking a rather large punt on Steinhoff International. He bought stock worth more than R7m in Steinhoff. Former Absa boss Steve Booysen – who was seen picking up stock last week – added another R450 000 to his Steinhoff kist.
Other interesting directors buying stocks (such as Capevin) somewhat lacking in liquidity would include Desmond Sacco spending R3,85m to snap up 20 000 shares in underrated base minerals specialist Assore and Christopher Seabrooke grabbing parcels of shares in the criminally overlooked investment trust Sabvest (see Portfolio Punts, page 32 and 33).
Once again, the directors’ dealings table is able to contribute to the debate about whether property will again be an outperforming asset class this year. Check out the buying by directors in Growthpoint, Capital and Fortress B linked units.
Maybe these dealings can be put down to specific opportunities, but there has been a fair bit of directors’ dealings in a variety of property stocks so far this year.
Jan Mouton, who was appointed to the Capevin board in mid-2009, manages the PSG [JSE:PSG] Flexible Fund – which has a bit of a cult following among unit trust investors.
Capevin is a holding company with a sizeable (indirect) stake in listed liquor giant Distell Group [JSE:DST]. Capevin has no operations of its own and merely collects the generous dividend tots from Distell Group [JSE:DST]. Due to its holding company nature, Capevin often trades at a substantial discount to its underlying investment – which might explain why Mouton is picking up shares on behalf of the Flexible Fund.
It’s not the first time Mouton has bought Capevin shares on behalf of the Flexible Fund. In September and October last year the fund spent almost R6m buying Capevin shares at prices that ranged between 8200c and 8500c. Perhaps it’s time someone made a little tally to see exactly how big a stake the larger PSG [JSE:PSG] Group holds in Capevin…
While Jan Mouton was delving into Capevin stock, his father Jannie was taking a rather large punt on Steinhoff International. He bought stock worth more than R7m in Steinhoff. Former Absa boss Steve Booysen – who was seen picking up stock last week – added another R450 000 to his Steinhoff kist.
Other interesting directors buying stocks (such as Capevin) somewhat lacking in liquidity would include Desmond Sacco spending R3,85m to snap up 20 000 shares in underrated base minerals specialist Assore and Christopher Seabrooke grabbing parcels of shares in the criminally overlooked investment trust Sabvest (see Portfolio Punts, page 32 and 33).
Once again, the directors’ dealings table is able to contribute to the debate about whether property will again be an outperforming asset class this year. Check out the buying by directors in Growthpoint, Capital and Fortress B linked units.
Maybe these dealings can be put down to specific opportunities, but there has been a fair bit of directors’ dealings in a variety of property stocks so far this year.
