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Salvaging value at Taste Holdings, which backed the expansion of global brands Starbucks and Domino’s Pizza in SA, is not going to easy — it may even be impossible for some unfortunate shareholders.

Consider this damning statistic: over the past five years, Taste raised more than R1bn from shareholders in rights issues and other capital-raising exercises. The group’s market value on the JSE now ranges between R44m and R66m — which is less than half the value of the fund-raising exercise held in February. That’s a serious roasting...

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