South Africa: The Bottom Line - Asset Managers in Tizz Over Verimark Delisting

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Johannesburg — MOVES to delist specialist retailer Verimark have ruffled feathers in the asset management industry. They believe the company may be trampling its minorities underfoot.

Verimark said yesterday it was making an offer to minorities, who hold nearly 40% of its stock, of 50c per share or R21m in total, and that representations would be made to sanction the scheme at the high court on Tuesday.

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