Mazor: Sidestepping the cycle
The delisting of the construction firm was mooted at its AGM, but investors may not get the price they want
The tenure on the JSE of building supplies group Mazor, which specialises in aluminium and steel cladding as well as glass, could soon come to an end.At a lengthy AGM this week, CEO Ronnie Mazor, whose family is the largest shareholder in the group, said talks would be held with other major shareholders about the delisting of the company.But shareholders should not expect a premium price. Mazor noted: "We will put an offer on the table, but it will be an offer that does not put my family at risk."Aside from the Mazor family, major shareholders include Global Capital, Cloudberry Investments and fund manager Niall Brown.Brown argued that with the bulk of Mazor’s shares being held by a handful of investors it makes little sense to retain a JSE listing.Mazor said last year a large shareholder had wanted to exit at a price of 220c — but that the best offer the family could table was 160c. "If we can’t meet on price, we will continue the ride."Mazor has had ups and downs since listing on...
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