Home » South African executive Josua Malherbe gains $2.4 million in 2021 thanks to stake in Remgro

South African executive Josua Malherbe gains $2.4 million in 2021 thanks to stake in Remgro

by Mfonobong Nsehe

South African executive Josua Malherbe has reported gains of R37.72 million ($2.4 million) since the year began from his stake in South Africa-based investment holding company, Remgro Limited.

As of press time Dec. 23, shares in Remgro were trading at a price of R128.19 ($8.143), 23-basis points higher than their opening price on the Johannesburg Stock Exchange.

At the current price level, the company’s market capitalization is R67.32 billion ($4.3 billion).

Malherbe, who is a non-executive, co-deputy chairman at Remgro, is one of the top individual shareholders in the company, with 1,178,995 ordinary shares. 

His stake, which is presently valued at R151.14 million ($9.6 million), has returned gains of R37.72 million ($2.4 million) since the start of the year.

The year-to-date bump in the market value of his stake can be linked to sustained gains in the share price of Remgro on the local bourse since the start of 2021 despite a 49.6-percent decline in its earnings to R6.28 per share at the end of its 2021 financial year.

Despite the difficulties in its operations in 2021 and the impact of the pandemic on financial assets and other investments held by the South African investment holding, Remgro’s shares surged by more than 33 percent.

Research conducted by Billionaires.Africa revealed that Remgro shares since the beginning of the year have risen from a price of R96.2 ($6.111) to R128.19 ($8.143) as of the time of writing this report.

The price surge accrued gains of 33.25 percent for shareholders, including Malherbe and South African billionaire Johann Rupert, who is the chairman of Remgro.

As a result of the upward price movement, the market value of Malherbe’s stake in Remro has increased from R113.42 million ($7.2 million) on Dec. 31 to R151.14 million ($9.6 million) on  Dec. 23.

This translates to a gain of R37.72 million ($2.4 million) for the executive since the start of the year.

Aside from Malherbe’s leadership roles and executive position with Remgro, the leading executive is also a non‑executive director and deputy chairman of Compagnie Financiere Richemont, a family-spirited group founded by Rupert, South Africa’s wealthiest man.

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