Another ace to Uys
SO CAPE EMPOWERMENT, which fought such a gruelling battle to secure a niche in the casino sector, has dumped another large parcel of shares in gaming group GPI . There remain 18m GPI shares in CAP’s clutches, which – along with a development property in Cape Town – underpin a 51c tangible net asset value. The market’s opinion on developments is pretty much summed up by CAP’s 26c share price, which is almost a 50% discount to NAV.
CAP sold its GPI shares to a company called Baleine. TheSPECtacle believes Baleine is the domain of the appropriately named Uys Meyer, a man who has long been collecting GPI chips. Baleine… remember that name.