Caxton and CTP Publishers is providing to purchase out all traders with fewer than 100 shares to cut back administrative prices.
The corporate has 5,498 registered odd shareholders, of whom 1,778, or simply over 32% of the entire, maintain fewer than 100 shares. These traders, known as odd lot holders, collectively maintain about 24,116 shares which represent 0.27% of the group’s issued share capital.
“To cut back the substantial recurring prices of administration related to the odd lot holders, the administrators of Caxton suggest the implementation of a suggestion to the odd lot holders,” the corporate stated in a press release on Friday
Qualifying shareholders can elect both to promote their shares to the corporate on the odd lot provide worth or retain their shares.
The provide worth can be calculated primarily based the volume-weighted common traded worth of Caxton shares over the 30 buying and selling days previous Might 23 2025 plus a 20% premium.
“If an odd lot holder doesn’t elect both of the money different or the retention different, such odd lot holder can be deemed to have accepted the money different,” Caxton stated.
Implementation of the odd lot provide requires the approval of the mandatory particular and odd resolutions at a normal assembly of shareholders, set for Might 23.
The corporate publishes a number of neighborhood newspapers and the nationwide day by day The Citizen, however lately has branched out into packaging, digital belongings and stationery.
Caxton shares closed unchanged at R12 on the JSE on Friday, valuing the publishing group at R4.26bn.
gavazam@businesslive.co.za
