Brimstone needs to step in and mop up weak share sellers
The desultory offloading could easily spark speculation that someone is trying to manipulate the share price
At last week’s AGM, Brimstone co-founder and executive chairperson Fred Robertson made a point of noting the gaping discount offered by the group’s share price against the intrinsic net asset value of about R16.50 a share.
Brimstone is one of the few enduring empowerment counters on the JSE – but despite a long track record of value creation and dividend delivery, the share price has lately looked vulnerable.
With the price discount at its widest level in yonks, Robertson urged shareholders not to offload their shares at such desultory levels...