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Valued at just R41m, Pembury Lifestyle Group (PLG) is one of the smallest companies on the JSE. But it isn’t always the size of the company that matters; sometimes a minnow assumes outsize importance because of the fractures it reveals in the institutions set up to make sure our market isn’t run with all the discipline of Boris Johnson’s straw-coloured mop.

Pembury, which set up 11 schools to provide "affordable quality education" to more than 2,400 children, while also opening a string of retirement villages, is just that example...

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