Some investors may feel there’s more bite left than R23 a share in those holdings PSG plans to hold on to after its planned unbundling.
Investment group PSG has issued its “restructuring” circular, and there’s no indication that shareholders will be in line for any additional sweeteners in the unbundling and buyout processes.
Independent expert BDO declared PSG’s restructuring offer to shareholders fair and reasonable, citing an indicative value range of between R97.16 and R109.11 a share. The “most likely” range was set at R102.95 a share...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.