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Allan Gray’s Clients Increase Stake in Pick n Pay to 10.1139%

  • Allan Gray Clients Boost Stake: Clients of Allan Gray increase their stake in Pick n Pay to 10.1139%.
  • Regulatory Compliance: Pick n Pay files required notice with the Takeover Regulation Panel, adhering to regulatory obligations.
  • Board Affirms Accuracy: Pick n Pay's board takes responsibility for the information, confirming its accuracy and compliance with disclosure requirements.

Pick n Pay Stores Limited has officially disclosed that clients of investment management firm Allan Gray have collectively acquired an additional interest in the company’s ordinary shares. This move has increased the total interest held by Allan Gray’s clients to 10.1139% of the total issued ordinary shares of Pick n Pay Stores Limited.

Notification Under Regulatory Requirements: In adherence to section 122(3)(b) of the Companies Act, No. 71 of 2008, and section 3.83(b) of the JSE Limited Listings Requirements, Pick n Pay Stores Limited has formally notified shareholders about the recent acquisition of securities.

Details of the Acquisition: A formal notification from Allan Gray Proprietary Limited confirmed that its clients have acquired an interest in Pick n Pay’s ordinary shares. As a result, the aggregate interest now stands at 10.1139% of the total issued ordinary shares of the company.

Filing with Takeover Regulation Panel: To ensure compliance with regulatory procedures, Pick n Pay Stores Limited has promptly filed the required notice with the Takeover Regulation Panel. This step underscores the company’s commitment to transparency and regulatory adherence.

Board’s Acceptance of Responsibility: The board of Pick n Pay Stores Limited acknowledges and accepts responsibility for the information disclosed in this announcement. They affirm that, to the best of their knowledge and belief, the information is accurate, and nothing crucial has been omitted.

Key Figures:

Company Details
Registration Number1968/008034/06
JSE Share CodePIK
ISIN CodeZAE000005443
Acquisition Information
Total Allan Gray Client Interest10.1139%
Date of AnnouncementJanuary 16, 2024
Location of AnnouncementCape Town
SponsorInvestec Bank Limited

Conclusion

The acquisition of a 10.1139% stake by Allan Gray’s clients in Pick n Pay Stores Limited marks a significant development in the company’s shareholder landscape. This move reflects the confidence that investors, particularly those under Allan Gray’s management, have in Pick n Pay’s future prospects. As the company continues to navigate the dynamic business environment, stakeholders will be closely watching for further developments in this unfolding story.

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