Adcorp Holdings Limited (JSE: ADR), has announced that its executive director, John Wentzel, has recently purchased 60,000 ordinary shares in an on-market transaction. The disclosure of this transaction is in compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited.
The transaction, which took place on 6 July 2023, saw John Wentzel acquire the shares at a price of 640 cents per security, resulting in a total rand value of R384,000. As an executive director, Wentzel’s interest in the transaction is direct and beneficial.
Adcorp Holdings Limited is a prominent player in the human capital management industry, offering a comprehensive range of services to assist businesses in managing their workforce. With operations spanning multiple sectors and industries, the company provides solutions for recruitment, training, payroll administration, and other HR-related services.
The purchase of shares by an executive director demonstrates John Wentzel’s confidence in the future prospects of Adcorp Holdings. Such transactions by company insiders are often regarded as a positive indicator of their belief in the company’s performance and potential for growth.
Adcorp Holdings operates under strict adherence to the JSE Limited Listings Requirements, ensuring transparency and accountability in all dealings involving securities. Clearance for this transaction was obtained in accordance with paragraph 3.66 of the Listings Requirements, further validating the compliance and integrity of the transaction.
The following table provides a summary of the transaction:
| Name of Director | John Wentzel |
|---|---|
| Name of Company | Adcorp Holdings Limited |
| Status | Executive |
| Date of Transaction | 6 July 2023 |
| Price per Security | 640 cents |
| Number of Securities | 60,000 |
| Total Rand Value | R384,000 |
| Class of Securities | Ordinary shares |
| Nature of Transaction | Purchase of shares by a director (on-market transaction) |
| Nature and Extent of Director’s Interest in the Transaction | Direct, beneficial |
The acquisition of shares by a key executive like John Wentzel can signal a positive outlook for the company, as it showcases leadership’s commitment to the organization’s long-term goals. It also provides an opportunity for shareholders to observe the confidence displayed by an influential figure within the company.
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