
Remgro to Distribute FirstRand Shares
20-NOV-19
Last night after the South African market closed, RMB Holdings (share code RMH) announced that they plan to spin out their FistRand stake and then delist. RMH is effectively just a holding company for 34% of FirstRand; a legacy structure. Due to changing corporate governance standards and increased pressure from shareholders, these types of holding structures are being dismantled. Remember in 2016 Pick'n Pay restructured their holding setup?
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