About time CEO and directors lightened up on Cartrack load

Business

About time CEO and directors lightened up on Cartrack load

With over 80% of Cartrack owned by Zak Calisto and fellow directors, the likes of Coronation are sidelined

Marc Hasenfuss

Companies that confidently predict double-digit revenue and profit growth are like hen’s teeth on the JSE these days.

So imagine the consternation at a Stock Exchange News Service (Sens) headline that vehicle tracking and fleet management group Cartrack – one of the most rewarding small cap stocks on the JSE – was making a mandatory offer to shareholders.

Fortunately, a quick glance at the content of the announcement would have seen the offer was triggered by CEO and major shareholder Zak Calisto shifting shares from one nominee company to another...

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