VICEROY REPORTS:
Nontargeted Resilient hopes sell-off will now end
Resilient CEO Des de Beer says the group and its partners are hopeful that the "hysterical" selloff of its shares will stop now that US research house Viceroy has targeted another firm in its second report on a South African company. Viceroy followed a damning report about Steinhoff International in 2017 with one about banking group Capitec on Tuesday. For three weeks, there have been sporadic selloffs of shares in Resilient, Greenbay Properties, Nepi Rockcastle and Fortress Income Fund. All of these groups form part of the Resilient stable of companies. The rumours about Resilient and its associate companies being a target of Viceroy had placed significant strain on the share prices that market players, not the Resilient management, could reverse. De Beer, who spoke on Tuesday following a Resilient presentation on its results for the six months to December said: "It is not our job to manage the market. We will continue to focus on providing our shareholders with consistent returns ...
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