Group Five Says Big Investor Wants Breakup, Return of ex-CEO

By Aarti Bhana Shareholders to vote on Upton’s return at meeting on July 24 Allan Gray also wants company to be broken up to boost value Group Five Ltd. said its largest shareholder, Allan Gray Ltd., has nominated former Chief Executive Officer Mike Upton to the board as a non-executive director and has proposed that … Continue reading Group Five Says Big Investor Wants Breakup, Return of ex-CEO

Advertisements

South Africa Has Second Recession in Eight Years

By Arabile Gumede , Amogelang Mbatha , and Aarti Bhana for Bloomberg News Gross domestic product contracted 0.7% in first quarter Median of 19 economists’ estimates was for 1% expansion South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three … Continue reading South Africa Has Second Recession in Eight Years

Net1 Says Belamant Pay Justified as Shareholders Forced Him Out

By Aarti Bhana and Renee Bonorchis for Bloomberg News Net1 pay committee doesn’t see ex-CEO’s deal as extravagant Belamant was paid $8 million severance, premium on shares Net1 UEPS Technologies Inc.’s new Chief Executive Officer Herman Kotze said a severance payment to the company’s founder and former CEO who was criticized by the company’s biggest … Continue reading Net1 Says Belamant Pay Justified as Shareholders Forced Him Out