An­other ace to Uys

Finweek English Edition - - COMPANIES&MARKETS -

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.

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