Mpact is still wrapped up in conflict
The company and its 34% hostile shareholder, Caxton, are in stand-off mode. Throw in scepticism towards South Africa’s mid-cap sector, and it means neither stock is going anywhere fast
15 June 2023 - 05:00
Judging by the voting at Mpact’s recent AGM, the paper and plastics company and Caxton are no closer to sorting out their three-year feud.
Once again Caxton used its 34% holding in Mpact to block all special resolutions (they need 75% backing). And, apart from common sense, it’s difficult to see anything in the near future that would nudge either party towards a truce. ..
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