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Christo Wiese add to his Brait holding

Michael makes a good point, after we saw a SENS announcement yesterday that Christo Wiese had bought 30 thousand contracts (representing 3 million ordinary Brait shares) at 73.505 Rand for a total value of 220,515,000 Rand. He suggests that Wiese must know how Brait are going to invest the cash that they are potentially left with, obviously a few hurdles to clear now. Wiese would have bought these two days ago, when the market fell hard, it fell hard again yesterday, down to 70 Rand. I wonder how leveraged he is, this takes relatively large sized you-know-whats to do this. He thinks the fall in the share price of Brait is overdone, he leveraged this, he thinks that he can make back his money quickly. Imagine the funding cost on 220 million Rand! And imagine if you were down 3.5 Rand multiplied by 3 million shares (on paper) in one day. Don't feel bad for Wiese, his shareholding in Shoprite, 15.31 percent of the business equals 87 699 198 shares. The recent final dividend, after 15 percent dividends tax, equals 162.5 million Rand paid to him mid September. Good work if you can get it! Finding a home for it you see, I am sure that it hurts a little.


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