Remgro Supports Grindrod’s Growth

On Tuesday, Grindrod Limited announced that Remgro Limited had agreed to purchase 133,333,334 new ordinary Grindrod shares at a price of R15.00 per share, an 8.8% premium to the unaffected 30 day VWAP and a 5.4% premium to the 120-day VWAP. The purchase represents approximately 22.3% of the post-issue ordinary capital and makes Remgro the largest shareholder of the company followed by the Grindrod Family.

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