Ann Crotty The fact that shareholders are actually due to get some, albeit small, compensation for their losses is almost unique in South Africa and should be embraced. Steinhoff. Picture: Supplied
Depending on who you’re listening to, Steinhoff is offering the ordinary South African investors who collectively lost untold billions of rands in the value of their Steinhoff shares an “excellent deal” or a “starkly discriminatory” one.
Chances are, if you’re one of those ordinary South African investors, or what Steinhoff terms a ‘market purchase claimant’ (MPC) you’ll be feeling decidedly discriminated against.
If, on the other hand, you’re what Steinhoff has termed a ‘contractual claimant’ (CC) you’ll believe the ordinary investors are getting a lot more than they deserve.