the G spot
Remgro’s Jannie Durand: things will get worse
We asked CEO Jannie Durand if there’s any point to still owning Remgro shares if the gap doesn’t narrow
The extent to which investment holding companies have fallen out of favour with the market is amply demonstrated by investor stalwart Remgro. Its latest results reflect a NAV of R154 per share, miles ahead of its actual share price of R93 on the JSE. We asked CEO Jannie Durand if there’s any point to still owning Remgro shares if the gap doesn’t narrow.
JD: There’d be no point holding a Remgro and that’s why we need to make sure we create value. You can do it in various ways and we’ve discussed this — via share buybacks or growing the unlisted part of the portfolio. The only reason for investment holding companies to exist is the unlisted assets. If we can’t justify Remgro’s existence then you’re absolutely right, then we’re just destroying value for shareholders. We must make sure that doesn’t happen.