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If anyone’s been around the block a few times, it’s Christopher Seabrooke, the CEO of investment company Sabvest [JSE:SBV] and non-executive director of Brait SA. So it must be with some sense of relief shareholders in Brait – especially those who choose to follow their rights in the R600m capital-raising exercise – saw Seabrooke’s very committed dealings in the “re-engineered” private equity group.
Seabrooke pitched for 900 000 Brait shares at 1650c/share, making an early exercise of the nil paid letters he was granted as part of the rights issue. That’s a R14,5m buy-in and a serious vote of confidence in a revamped Brait – which, as we reported some months ago, didn’t tickle the fancy of all professional investors (especially those who liked the company’s dividend yield).
Seabrooke’s decision to follow his rights probably means Sabvest – which when last we looked held 600 000 Brait [JSE:BAT] shares – will also follow its rights.
Other Brait directors also followed Seabrooke’s example. Colin Keogh picked up R165 000 worth and Richard Koch (not included in this table) spent a nifty R9m.
Elsewhere there were some (perhaps telling) sales involving top directors of a handful of the JSE’s current market darlings. Riaan Stassen offloaded a few of his many Capitec Bank Holdings [JSE:CPI] stocks, while Kevin Hedderwick took some (well-earned) profits at a red hot Famous Brands [JSE:FBR].
There was a smattering of selling in cement group Sephaku – a development that, although relatively insignificant in value, probably won’t help the market to make its mind up about the potential of this share.
Seabrooke pitched for 900 000 Brait shares at 1650c/share, making an early exercise of the nil paid letters he was granted as part of the rights issue. That’s a R14,5m buy-in and a serious vote of confidence in a revamped Brait – which, as we reported some months ago, didn’t tickle the fancy of all professional investors (especially those who liked the company’s dividend yield).
Seabrooke’s decision to follow his rights probably means Sabvest – which when last we looked held 600 000 Brait [JSE:BAT] shares – will also follow its rights.
Other Brait directors also followed Seabrooke’s example. Colin Keogh picked up R165 000 worth and Richard Koch (not included in this table) spent a nifty R9m.
Elsewhere there were some (perhaps telling) sales involving top directors of a handful of the JSE’s current market darlings. Riaan Stassen offloaded a few of his many Capitec Bank Holdings [JSE:CPI] stocks, while Kevin Hedderwick took some (well-earned) profits at a red hot Famous Brands [JSE:FBR].
There was a smattering of selling in cement group Sephaku – a development that, although relatively insignificant in value, probably won’t help the market to make its mind up about the potential of this share.
