COMPANY COMMENT
Novus still reaching for executive stability
The printing and manufacturing group is set to appoint its fourth company secretary in three years
It looks as though things at Novus Holdings continue to be in a state of flux. The printing and manufacturing group has just announced the resignation of its company secretary. This means it is set to appoint the fourth company secretary in three years, which may be something of a record for a JSE-listed company. It will do little to steady the nerves of shareholders who have looked on as the share price moved steadily weaker for most of its comparatively brief existence as a listed entity. For the new shareholders who picked up Novus after Media24 and Naspers were forced to unbundle their controlling stake in 2017, the collapse in the share price is not quite so traumatic. Many of them got the shares at below R7. They will be hoping that just some things at Novus go according to plan and they will likely be able to cope with the earnings fall-out from the loss of a chunk of the Media24 printing contract. They may even be able to deal with the disappointing performance from the tiss...
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