JOHANNESBURG – South Africa’s Verimark Holdings said on Monday its majority shareholder intended to acquire the remaining shares and delist the firm which sells direct response television products.
The company said it had received notice from the Van Straaten Family Trust, which holds around 64 percent stake in Verimark, that it planned to acquire the minority interests.
Verimark said on Monday its revenue for the six months ended 31 August 2018, fell 1 percent to 207.5 million rand on the back of lower consumer confidence due to the country’s recession and most retailers tightening up on stock holding. (Reuters)
(Reporting by Tanisha Heiberg; Editing by Sunil Nair)