Brimstone to issue new shares in place of dividend
Listed investment group opts to preserve cash in preparation for investments in the near future
11 March 2020 - 18:19
In a move to preserve cash, listed investment holding company Brimstone, the biggest shareholder of Sea Harvest, intends to issue new shares to shareholders instead of paying a dividend.
According to CEO Mustaq Brey, the company has earmarked its cash for future acquisitions and to reduce debt. As at December 31, Brimstone had long-term borrowings of R3.9bn and short-term loans of R1.4bn...
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