Stellenbosch-headquartered investment holding firm Remgro’s share prices took almost a 7% slide on the JSE on Tuesday, following a trading update after the market closed the day before.
However, Remgro clarified that the decline has largely got to do with the impact of corporate actions such as Distell Group being bought out by Heineken Beverages, and the unbundling of its stakes in Mediclinic and Grindrod.RCL Foods to spin-off and list Rainbow Chicken business“A significant driver of the decline in headline earnings relates to the effect of the corporate actions implemented in the recent past, majority of which are non-recurring items,” the group said.
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