Leading international fresh produce group Capespan has issued a cautionary note to shareholders sparking speculation on new developments in the on-going battle for control of the company.
In a short statement, Capespan advised shareholders that the company had entered into negotiations which, if successfully concluded, may have a material effect on the price of the Company's securities.
'Accordingly, shareholders are advised to exercise caution when dealing in the Company's securities until a further announcement is made,' the group said.
Earlier, it was reported that both Total Produce and BB Investment, a wholly owned subsidiary of The Bidvest Group Limited, had acquired additional ordinary shares in the Company.
Leading South African investor Zeder Investments Ltd now has shareholding of 40 per cent in Capespan.
