Strug­gle con­tin­ues

Finweek English Edition - - MARKETPLACE SIMON SAYS - Ed­i­to­rial@fin­week.co.za

Taste’s is­sue of 80m new shares at 150c didn’t go very well with some 20%, or 15m shares, not be­ing sub­scribed for. Taste got its R120m (be­fore costs). Those 15m shares were a con­cern be­fore a Sens an­nounce­ment that Protea As­set Man­age­ment and Con­duit Cap­i­tal have taken a 38.4% stake in Taste post the is­sue. These two companies are con­trolled by Sean Riskowitz, who has a great track record of mostly pick­ing win­ners and be­ing a long-term holder. It could be good news for shareholders, and makes me want to take a harder look at Taste. I like the business model, es­pe­cially Star­bucks, but for now I re­main on the side­lines watching and wait­ing.

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