Taste Holdings: No plans to delist
The company denies it is ‘haemorrhaging’ cash, but it needs more funds to roll out more Domino’s and Starbucks stores
Taste Holdings’ AGM this week was hardly the explosive affair it could have been given the company’s relentless share price slide over the past year, with just one retail investor in attendance. But, after months of silence under the new management team of CEO Tyrone Moodley and COO Dylan Pienaar, as well as a virtually new board — with the exception of chair Grant Pattison — Taste’s directors were surprisingly happy to talk. Taste, which holds exclusive rights to global brands Domino’s Pizza and Starbucks, has no plans to delist, says Pattison. That’s despite the view of some, including Vunani Securities small-cap analyst Anthony Clark, who says going private is the "only option" for majority shareholder, the Riskowitz Value Fund, "to save their investment". The fund is managed by low-profile US-based investor Sean Riskowitz. "There’s been no discussion at all on that front," says Pattison. Asked whether it is in Taste’s interest to remain a public company, he says: "It’s still a v...