Safari Investments RSA Limited has recently announced a significant on-market share transfer involving associates of one of its directors. In accordance with the JSE Listings Requirements, the details of the transaction have been made public.
Steven Herring, a non-executive member of the Safari Investments board, is the director at the center of this transaction. The associates involved in the share transfer are Heriot Investments (Pty) Limited and Heriot Properties (Pty) Limited, both of which have a direct relationship with Mr. Herring.
The transfer of ordinary shares took place from Heriot Properties (Pty) Limited to Heriot Investments (Pty) Limited on June 29, 2023. The transaction occurred on the open market at a price per security of 560 cents. An impressive 1,571,645 shares changed hands during this transfer, resulting in a total value of R8,801,212.
It is important to note that this share transfer has no impact on Steven Herring’s indirect beneficial shareholding in Safari Investments RSA Limited, as per the guidelines outlined in the JSE Listings Requirements. Clearance to proceed with the transaction was obtained under paragraph 3.66 of the same requirements.
Safari Investments RSA Limited is a leading REIT, primarily focused on the acquisition, development, and management of commercial and retail properties throughout South Africa. The approval received as a REIT by the JSE Limited highlights the company’s commitment to generating consistent returns for its shareholders while adhering to the highest industry standards.