In a recent development, directors and major stakeholders of PBT Group Limited have bolstered their holdings in the company through off-market transactions. The move, disclosed in accordance with the JSE Limited Listings Requirements, sheds light on the confidence insiders have in the company’s future prospects.
Directors’ Strategic Acquisitions
Chief Executive Officer Elizna Read, Chief Financial Officer Bianca Pieters, and Directors of major subsidiaries Vernon Strauss and Reta-Mari Ward have all participated in the acquisition of PBT Group ordinary shares. Each director acquired 37,333 shares at a price of 655 cents per share, amounting to R 244,532 each.
| Director | Position | Number of Shares | Price (cents) | Total Value (R) |
|---|---|---|---|---|
| Elizna Read | CEO | 37,333 | 655 | 244,532 |
| Bianca Pieters | CFO | 37,333 | 655 | 244,532 |
| Vernon Strauss | Director of Major Subsidiary | 37,333 | 655 | 244,532 |
| Reta-Mari Ward | Director of Major Subsidiary | 37,333 | 655 | 244,532 |
These acquisitions signify the confidence of the leadership team in PBT Group’s growth trajectory and future performance.
Increase in Beneficial Interests
The acquisitions have resulted in a notable increase in the direct and indirect beneficial interests of the directors in PBT Group. Elizna Read now holds a total of 5.68% beneficial interest in the company, while Bianca Pieters, Vernon Strauss, and Reta-Mari Ward each hold a total of 1.31% beneficial interest.
| Director | Direct Beneficial Interest (%) | Indirect Beneficial Interest (%) | Total Beneficial Interest (%) |
|---|---|---|---|
| Elizna Read | 0.55 | 5.13 | 5.68 |
| Bianca Pieters | 0.04 | 1.28 | 1.31 |
| Vernon Strauss | 0.04 | 1.28 | 1.31 |
| Reta-Mari Ward | 0.04 | 1.28 | 1.31 |
Pule Taukobong, a non-executive director of PBT Group, has seen an increase in his indirect beneficial shareholding in the company to 2.23%, through his company Pulsent PBT Proprietary Limited.
Spalding’s Holdings
Spalding Investments 10 (RF) Proprietary Limited, an associate of the directors, has also made moves in the share market. Despite disposing of 224,000 PBT Group ordinary shares, the company still holds a substantial stake of 27.2% in the company, indicating its continued confidence in PBT Group’s performance.
Conclusion
The recent off-market transactions by PBT Group’s directors and associated companies underscore a strong belief in the company’s future prospects. With an increase in beneficial interests and strategic acquisitions, insiders are aligning their interests with the long-term success of PBT Group. This move is likely to bolster investor confidence and reinforce the company’s position in the market.
