JSE-listed banking group Capitec has downplayed a recent story on Bloomberg that CEO Riaan Stassen had sold a significant stake in the group.
The original Bloomberg story said that Stassen “retains a 1.87 percent holding in Capitec through DSE” [DSE Ventures Ltd - his trust company].
Capitec responded with a press statement which said:
“A report issued on Bloomberg on 2 October 2012 about Capitec Bank’s CEO Riaan Stassens’ share portfolio is factually incorrect. So says the bank’s Exec Marketing & Corporate Affairs, Carl Fischer. Fischer corrects the report by stating that the reduction in Mr Stassen’s total portfolio of Capitec Shares from March 2012 to end August 2012 was in fact 14 percent. He adds that the CEO still has a substantial interest in Capitec Bank and his exposure to the bank is currently valued in excess of R400 million.”