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Reunert's directors buy shares worth almost R14m

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 16 Jan 2017
Reunert CEO Alan Dickson bought shares worth almost R5.7 million, while CFO Nick Thomson purchased R3.8 million worth of shares.
Reunert CEO Alan Dickson bought shares worth almost R5.7 million, while CFO Nick Thomson purchased R3.8 million worth of shares.

Reunert's directors have bought shares in the group worth almost R14 million. Four Reunert directors, the company secretary and a director of major subsidiary, ATC, have in total purchased over 200 000 shares that add up to a total of R13 922 115.

The details of the dealings by directors were revealed in a Stock Exchange News Service (SENS) announcement.

The biggest purchase was made by CEO Alan Dickson, who bought shares worth almost R5.7 million. CFO Nick Thomson purchased R3.8 million worth of shares and executive directors Mohini Moodley and Mark Taylor bought around R1.9 million and R1.6 million respectively.

Company secretary Karen Louw bought shares worth over R430 700 and ATC director PW de Villiers invested over R492 600.

The volume weighted average purchase price of the shares was R67.97 each. The highest price at which shares were purchased was R69.85 and the lowest price was R66.28.

Reunert says in the SENS statement that the average purchase price is based on transactions effected by the company's broker between 5 December 2016 and 6 January 2017. The shares were allocated to individuals on 6 January 2017.

The group's share price was trading at around R67.20 this morning and the market capitalisation is worth almost R12.4 billion. Year-to-date, the Reunert share price has risen by 14% so far in 2017.

Reunert manages a portfolio of businesses in the fields of ICT, applied electronics and electrical engineering. Its businesses include CBI Electric, Nashua and Reutech, among others.

The group was established in 1888, by Theodore Reunert and Otto Lenz, and listed on the JSE in 1948 in the industrial goods and services (electronic and electrical equipment) sector. The group primarily operates in South Africa, with smaller operations in Australia, Lesotho, Sweden, the USA, Zambia and Zimbabwe.

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