COMPANY COMMENT: Will Mr Price follow Capitec’s rising trend?
While 2017 was a difficult year for clothing retailers, Mr Price rose like a phoenix from the ashes
Capitec share options are the remuneration reward that just keep giving. That must certainly be the feeling co-founder and former CEO Riaan Stassen gets every time he sells a chunk of the share options he was awarded during his tenure. Because the share price has performed so strongly over the past several years, each time Stassen sells a block the diminished number he is left with becomes ever more valuable. In September 2013, when Stassen announced his retirement, he owned 2-million Capitec shares. At the time they were worth R408m. This week, with the share almost touching R1,100, his retirement stash would have been worth a staggering R2.2bn. However, Stassen has been steadily selling shares since his retirement, presumably to help fund his exciting wine venture in Happy Valley outside Stellenbosch. In mid-December he sold 50,000 for R49m. Less than two weeks later, on December 29, he topped up his cash holdings with the sale of a hefty 100,000 Capitec shares. This transaction g...
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