Is the wine industry infested with a plague of thirsty mosquitoes or did I get out of the wrong side of the bed this morning? Read the press release from Capevin Investments and flew into a tiny rage. Capevin Investments is a holding company for shares in Distell and while Mighty Merwe Botha did a sterling job and held the interim dividend in a tight market, Capevin, whose only function is to pass on Distell lolly to its shareholders, cut the interim by half a cent, from R1.73 to R1.725. To rub salt into the wound, Distell paid out R1.24 and since one Capevin = 1.397 Distell shares, I was expecting at least R1.73. Time to unbundle Capevin manne, which should send the price up from the current R87.50 to R100.
