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If you don’t know whose logo this is, it might pay to find out


If you don’t know whose logo this is, it might pay to find out

Venerable investment holding company is dismantling its N-share structure, loosening up for the retail market

Marc Hasenfuss

Thankfully there are only a few N-share structures remaining on the JSE.

N-shares – which usually carry no voting power or have low voting power – were popular in days of yore, especially when family shareholders were determined to hold control of a company despite (sometimes) holding a fairly small economic interest.

Encouragingly, enduring investment counter Sabvest looks like it is in the throes of dismantling its N-share structure – which, quite frankly, is a little superfluous in that the Seabrooke family holds a commanding economic interest of over 38%...

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