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