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Prime Kapital launches voluntary offer for MAS shares amid shareholder unrest
Cape Times
|August 05, 2025
ONGOING shareholder troubles at JSE-listed Eastern and Central Europe property group MAS continued on Monday after its major shareholder, Prime Kapital Investments (PKI), launched a voluntary offer to acquire MAS shares not already held by it.
The offer comes barely a month after MAS shareholders overturned resolutions by PKI at an extraordinary shareholder meeting regarding the selloff of MAS’s assets and the payment of a special dividend with the proceeds.
Just a week ago, a previous bidder for MAS, South African REIT Hyprop, withdrew its offer because MAS and PKI, as the main shareholder, refused to provide documents about a development joint venture (DJV) between PKI and MAS.
PKI stated on Monday that their current offer is not contingent on PKI gaining control of MAS. The only condition is that at least 10% of MAS shareholders accept the cash offer of €1.40 per share or R29.22 per share, allowing PKI to secure a more meaningful strategic stake in MAS.
This story is from the August 05, 2025 edition of Cape Times.
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