In Brief Wheeling and dealing
Some directors’ dealings this week, always nice to know where the people who know are putting their money vis-à-vis the businesses they help run. First up, a company owned by the family of Mr Brian Epstein, a former board member of Dis-Chem, is flogging R7.3m worth of ordinary Dis-Chem shares on the open market, and with Dis-Chem’s blessing. And Hubert Brody, Independent non-Executive Chairman of Woolworths Holdings Limited, recently snaffled up another R493,000 and some change worth of stock in the Dapper One, in three separate transactions. In other Woolies news, CEO Roy Bagattini has defended the ongoing presence of reusable plastic bags at the tills. The bags introduced in 2018, said Signor B at the recent AGM, have taken as much as six tons of plastics out of circulation, and have not impacted on the bottom line one jot. Finally, burgeoning independent Kit Kat Group opened a spanking new Kit Kat Cash and Carry in Mamelodi last week. The 12,000m2 behemoth includes a variety of departments, including groceries, clothing, building materials, a Money Market, an in-house pharmacy, and a Food Lover’s Market.
Comment: Kit Kat is a business to watch, in a sector with room to grow.