IMPERIAL HOLDINGS
Why Imperial’s board wants a vote for Motus unbundling
Imperial Holdings’ board on Monday urged shareholders to vote in favour of the proposed unbundling of its vehicle dealership division, Motus, into a separate JSE listing, reiterating the company’s view that the move would benefit shareholders. According to Imperial, the unbundling would enable the business units to be separately accountable to debt and equity providers and unlock value for shareholders. The management teams of Imperial Logistics and Motus would be able to pursue acquisitions locally and internationally, with direct accountability for performance and growth. Imperial said on Monday the board appointed PwC as the expert to draw up an independent report on the transaction. "Having considered the terms and conditions of the unbundling and based upon and subject to the terms and conditions in the independent report, [PwC] is of the opinion the unbundling is fair and reasonable to shareholders," Imperial said. The company said its board considered the report and "unanimou...
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