Remgro unbundles shareholding in Grindrod
Stellenbosch-based investment group Remgro has announced the unbundling of its shareholding in JSE-listed freight and logistics group Grindrod, as part of the realignment of its investment portfolio.
The Johann Rupert-owned investment firm will distribute its entire shareholding of 25% in Grindrod, by way of distribution in specie to Remgro shareholders as an unbundling transaction.
Remgro shareholders will receive 30.70841 unbundled Grindrod shares for every 100 Remgro shares held.
Remgro stated that the unbundling decision was underpinned owing to a "firm belief in the encouraging trajectory of Grindrod’s business and the strong management team to deliver and fulfil Grindrod’s stated purpose and strategy”.
Grindrod said in a separate statement that it would continue to drive its strategy of delivering efficient and cost-effective logistics solutions and that it would continue to invest in the required infrastructure to do so.
The Grindrod Family, through Grindrod Investments Proprietary Limited, remains as an anchor shareholder of the group.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation