BUYING SHARES IN STABLE
Resilient executives bank on recovery
Executives from the Resilient group of companies have begun to increase their personal holdings in the stable, suggesting they expect the companies’ share price to recover after the worst selldown in their history. Some institutions are also expecting the companies’ share prices to rebound after the sustained selldown in shares. The stable includes Resilient, Greenbay Properties, Fortress and Nepi Rockcastle. Resilient CEO Des de Beer has spent R60m since Friday on stocks in that specific company through his trust, Delsa Investments. Fortress CEO Mark Stevens spent R2.2m on Fortress B ordinary shares this week through his trust, MWS Investment Trust. Resilient’s share price has declined 14% in 2018. Fortress’s B shares have dropped about 31% year to date. Its A shares are down 4.5%. Greenbay’s price is up nearly 9.68% and Nepi Rockcastle is down nearly 29% year to date. Some investors have shorted the shares of the stable and any potential upside may have been stunted by a general s...
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