JSE Direct with Simon Brown

Podcast: Delistings & inside Easy Equity users

In JSE Direct, Latest by Simon Brown

Simon Shares

  • JSE Direct is ten years old. Started 8 July 2008 on Classic FM.
  • Aton out smartens Aveng (JSE code: AEG) and Murray and Roberts (JSE code: MUR) with a 25.4% in Aveng that can effectively block any special resolutions such as a take over. Alternative if the deal between MUR and AEG goes ahead, Aton will get MUR shares as a AEG shareholder which should ensure they end up with 50% +1 and in complete control at MUR.
  • Torre (JSE code: TOR) is maybe delisting. There will be a shareholder vote and if it passes you’ll either get the money or remain a shareholder but in an unlisted company. The later is a horrid idea as liquidity and price discovery is typically zero. I Also think we’ll likely see more small cap stocks delisting.
  • What can you do?
    • Vote. There will be a vote by shareholders and you have every right to vote against it and as a delisting requires a special resolution 75% +1 is the required minimum to pass.
      • Organise. Find other small shareholders (easier said than done) and get them to vote against.
      • Talk to management and large shareholders. You may be a small shareholder but you have your rights and potential influence.
      • Fight against interested parties voting.
      • Using above also try and get the price raised.
      • At the end of the day, if you’re in the minority you lose. That’s how voting works.
  • OUTstanding money: Saving tax-free
  • Upcoming events;

Inside Easy Equity users

Easy Equity recently did a user survey with over 6,000 responses and I sat down with Charles Savage (CEO of Purple Group & Easy Equities) to chat around he main findings.

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JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited

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