Saltzman will divest 32.25 million Dis-Chem ordinary shares owned by the Saltzman family, representing 3.75% of Dis-Chem’s issued share capital, to his replacement and senior executives.
Dis-Chem released a muted trading update on Friday that showed retail sales volumes may be coming under pressure. Analysts suggested that it could be losing ground to its main rival Clicks in some of its key segments.