×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

“With so many lawyers and advisers involved, this was always going to be legalistic and complicated,” an evidently relieved Asief Mohamed tells the FM. Mohamed, CEO of Aeon Investment Management, is relieved because, as he never bought Steinhoff shares, he has been spared the Kafkaesque nightmare of claiming a refund for losses on those shares.

The market purchase claimants (MPCs), as those who apply for a refund are called, include collective investment schemes and individual shareholders. They have until May 15 to submit their claims for a share of the R13.5bn in the payout pot. Peter Armitage, CEO of Anchor Capital, estimates that 68% of the 4.3-billion Steinhoff shares in issue fall in the MPC category. The payout could be anything between R2 and R8 a share, Armitage says, but he warns that, given the complexity and lack of publicly available information, even that range is a “thumb-suck”...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now