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Naspers' share price pushed through the R3000 mark and, if Tencent's growth continues, it's very unlikely that we'll see that price going down - at least not anytime soon. Could it be time for a NPN share split? At R3000 per share, a three (R1000) or four-way (R750), maybe even a 5-way (R600) split wouldn't hurt right now, and it has no impacxt on their market cap. I reckon a smaller price point might attract smaller investors because right now it's looking rather unattainable. Can't imagine what it'll be like should it hit R4000 or R5000.
Perhaps Capitec should start thinking along those lines...
Alternatively, Naspers should consider a serious re-structuring to separate out Tencent and its results whilst casting the spotlight on the "rump" and its questionable performance. I think they have wasted money on unpersuasive investments to date that have yet to bear any real fruit. Which brings us to the current remuneration issue. The present team should not be remunerated on Tencent results. That will sharpen their minds on getting the rump up to standard.
This has a lot riding on it - and having more than one horse in the race is a prerequisite for viewing this as a growing business versus an investment holding company.
So I don't think they have a choice - keep investing in new businesses- looking for the next 10cent. But as regards remuneration - the present arrangement is rewarding managment for breathing. That is simply unfair
to shareholders. Mr Bekker should reconsider his position.