South African senior executive Josua Malherbe has earned R20.1 million ($1.33 million) in the past 152 days from his stake in Remgro Limited.
Remgro is an investment holding based in Stellenbosch, a town in the Western Cape province of South Africa.
The company has interests in banking, financial services, packaging, glass products, medical services, mining, petroleum, beverage, food and personal care products.
Malherbe, who is the deputy chairman of Remgro, holds a beneficial interest of 1,178,995 ordinary shares in the investment holding.
Aside from his leadership role in the South Africa-based company, Malherbe also sits on the board of Compagnie Financiere Richemont SA.
The million-dollar gain in his stake came off a double-digit rise in Remgro shares on the Johannesburg Stock Exchange, as investors renewed buying interest in the company.
As of press time, 3:15 PM (UTC), Aug. 24, shares in the company were trading at R117.04 ($7.769), 50-basis points higher than its opening price of R116.78 ($7.752) for the day.
Investors’ renewed buying interest in Remgro has seen its share price increase from R100.03 ($6.640) on March 25 to R117.04 ($($7.769) as of the drafting of this report. This has led to a 17.4-percent gain for the company’s shareholders in 152 days.
Meanwhile, the market value of Malherbe’s stake in the Stellenbosch-based company has increased from R117.93 million ($7.83 million) on March 25 to R138.0 million ($9.16 million) on Aug. 24.
This translates to a gain of R20.1 million ($1.33 million) for the South African executive in 152 days.