Minority investors fight Bell delisting

Company accused of using low share price to favour family trust

24 January 2021 - 00:05 By NICK WILSON

Bell Equipment’s minority shareholders are pushing it to consider a tie-up with a large international company or a public sale rather than leaving the JSE, saying a delisting at 20-year-low prices would disadvantage long-term investors in favour of the family trust that controls the company.

The shareholders — who include Opportune Investments MD Chris Logan, America-based asset managers Shipyard Capital Management, and Glacier Pass Partners — said the earth-moving equipment supplier, which has been slipping down the ladder in terms of global sales, is a minnow compared to some of its peers from other countries and that taking it private would not help it in its efforts to gain market share...

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