Publications
Partners
Lights, camera…action
WELL DONE TRENCOR! TheSPECtacle was heartened to see this Cape Town-based container management specialist making an effort to ensure its many Johannesburg-based shareholders can participate in its upcoming AGM. With the AGM being hosted at Trencor [JSE:TRE] ’s HQ at the Cape Town Foreshore, directors decided to set up a video link to Investec Bank for shareholders preferring to attend the meeting in Johannesburg.
TheSPECtacle hopes that in this age of advanced technological interface more listed companies will follow suit – especially those “local” companies with primary listings offshore. TheSPECtacle understands there’s currently an intense legal debate about whether SA’s new Companies Act doesn’t perhaps now require listed companies to set up video links for the convenience of shareholders unable to make the trek to the corporate head office.
Debating legal interpretations of the new Companies Act could be a prolonged process. But surely listed companies should simply put the question to shareholders?
Hot and cold
THESPECTACLE was disappointed to see a cautionary announcement suggesting a minority buyout and delisting are in the offing at Universal Industries Corporation [JSE:UNI], the promising baking supplies and cold storage specialists. Although Universal hasn’t traded at levels that reflect its promise (as articulated a handful of times in our PUNTS section over the past three years) there was gradual recognition the business could become a small cap gem.
Its share price went scurrying through the 230c mark last week, which at least suggests a possible buyout price will be well in excess of the 150c/share private placement ahead of the company’s late 2007 listing.
Ironically, Universal isn’t really a stranger to minority buyouts and delistings. Macadams – Universal’s bakery supplies subsidiary – was listed in the late Eighties boom and delisted in the early noughties, much to the dismay of some very vocal minorities.
TheSPECtacle suspects it will be a quieter (and perhaps more dignified) farewell for Universal…
Remgro’s ruck ’n roll
STELLENBOSCH-BASED investment giant REMGRO has over recent years shown an inclination for sports brand investing – particularly rugby. So TheSPECtacle imagines there were a few high fives around Stellenbosch last Saturday evening when Saracens – a British club rugby side in which Remgro [JSE:REM] has a major stake – clinched the Aviva Premiership (a tournament probably equivalent to our Currie Cup).
The victory will be especially sweet after Remgro had to watch in dismay as Saracens lost the final last year in the last minute.
It’s difficult to quantify what such an illustrious victory means in terms of growing the underlying value of a sports brand investment. But it has to be a big number… relatively speaking.
Remgro will now be anxiously watching the closing stages of the Southern Hemisphere’s Super 15 rugby tournament. Remgro has meaningful indirect stakes in the Bulls and the Stormers, which still both have a more than fair chance of making the playoffs.
Stimulating notice
SOME INVESTORS must have been surprised to see a results announcement on Sens from STIMULUS HOLDINGS on Tuesday morning last week. From what TheSPECtacle can gather, Stimulus – a private equity specialist based in Windhoek – has only its preference shares listed on the Namibian Stock Exchange. Perhaps – unless there is a JSE listing pending on the new African board – it was published on SENS by mistake?
In fact, Stimulus looks like a nifty little number with plenty of cash at its disposal, plus a most interesting portfolio. The group’s main investment appears to be in semi-legendary Namibian restaurant Joe’s Beerhouse. Damn, wouldn’t that add froth to the AltX – especially considering it appears Joe’s is profitable and cash flow generative.
WELL DONE TRENCOR! TheSPECtacle was heartened to see this Cape Town-based container management specialist making an effort to ensure its many Johannesburg-based shareholders can participate in its upcoming AGM. With the AGM being hosted at Trencor [JSE:TRE] ’s HQ at the Cape Town Foreshore, directors decided to set up a video link to Investec Bank for shareholders preferring to attend the meeting in Johannesburg.
TheSPECtacle hopes that in this age of advanced technological interface more listed companies will follow suit – especially those “local” companies with primary listings offshore. TheSPECtacle understands there’s currently an intense legal debate about whether SA’s new Companies Act doesn’t perhaps now require listed companies to set up video links for the convenience of shareholders unable to make the trek to the corporate head office.
Debating legal interpretations of the new Companies Act could be a prolonged process. But surely listed companies should simply put the question to shareholders?
Hot and cold
THESPECTACLE was disappointed to see a cautionary announcement suggesting a minority buyout and delisting are in the offing at Universal Industries Corporation [JSE:UNI], the promising baking supplies and cold storage specialists. Although Universal hasn’t traded at levels that reflect its promise (as articulated a handful of times in our PUNTS section over the past three years) there was gradual recognition the business could become a small cap gem.
Its share price went scurrying through the 230c mark last week, which at least suggests a possible buyout price will be well in excess of the 150c/share private placement ahead of the company’s late 2007 listing.
Ironically, Universal isn’t really a stranger to minority buyouts and delistings. Macadams – Universal’s bakery supplies subsidiary – was listed in the late Eighties boom and delisted in the early noughties, much to the dismay of some very vocal minorities.
TheSPECtacle suspects it will be a quieter (and perhaps more dignified) farewell for Universal…
Remgro’s ruck ’n roll
STELLENBOSCH-BASED investment giant REMGRO has over recent years shown an inclination for sports brand investing – particularly rugby. So TheSPECtacle imagines there were a few high fives around Stellenbosch last Saturday evening when Saracens – a British club rugby side in which Remgro [JSE:REM] has a major stake – clinched the Aviva Premiership (a tournament probably equivalent to our Currie Cup).
The victory will be especially sweet after Remgro had to watch in dismay as Saracens lost the final last year in the last minute.
It’s difficult to quantify what such an illustrious victory means in terms of growing the underlying value of a sports brand investment. But it has to be a big number… relatively speaking.
Remgro will now be anxiously watching the closing stages of the Southern Hemisphere’s Super 15 rugby tournament. Remgro has meaningful indirect stakes in the Bulls and the Stormers, which still both have a more than fair chance of making the playoffs.
Stimulating notice
SOME INVESTORS must have been surprised to see a results announcement on Sens from STIMULUS HOLDINGS on Tuesday morning last week. From what TheSPECtacle can gather, Stimulus – a private equity specialist based in Windhoek – has only its preference shares listed on the Namibian Stock Exchange. Perhaps – unless there is a JSE listing pending on the new African board – it was published on SENS by mistake?
In fact, Stimulus looks like a nifty little number with plenty of cash at its disposal, plus a most interesting portfolio. The group’s main investment appears to be in semi-legendary Namibian restaurant Joe’s Beerhouse. Damn, wouldn’t that add froth to the AltX – especially considering it appears Joe’s is profitable and cash flow generative.
