ya .. some story about BTI being inweard listed, hence is part of a companies off shore allowance (15% I think is the max for asset swaps) .. they were given a couple of years rather then the usual 2 weeks .. but there is talks around changing the status ..
Sorry for being obtuce... Does reinet have to dispose of its BAT shares because of its dual listing or does the SA investors have to dispose of their allocatedd BAT shares.. help please. I have read all the blurb on www.reinet.com but can find no helpful info.
REI has a primary listing on the Luxembourg stock exchange and my understanding is that a stipulation for being listed there, they need to unbundle their BAT interests - not sure if this is correct, can anyone comment...
Ok . As always it helps to go to the horses mouth...Reinet has to reduce their portfolio holding of any one company to no more than 30% within 4 years. Currently BAT represents 80% of the companies value. So either they have to serriouly be very very clever and make the cash grow by massive amounts or they will be forced sellers of BAT stock...this at a time when BAt is one of the world best Performers.
ok because I am a maths plonker please check this for me. Reinet earned 426mill euro in Divs this year from BAT ( i think) If they sold down their stake to 30% what would there earnings shortfall be? I get 270 mill