Coronation Fund Managers
Coronation Fund Managers is a South African asset manager that previously held approximately 28.35% of RMH Holdings as of September 2025. It sold this block bilaterally to Atterbury Property Fund at approximately R0.47 per share in October 2025 — a transaction with no competitive tension that established the reference price subsequently locked in as the mandatory offer floor under TRP (Takeover Regulation Panel) regulations. Critics of the AttBid Proprietary Limited offer, including Albie Cilliers, argue this sequence inverted the intent of mandatory offer protections: the bilateral block trade at 47c set the floor that was then used to regulate the offer to all remaining minorities.
Connections
- RMH Holdings — formerly held 28.35% stake
- Atterbury Property Fund — purchased the block, triggering concert party counting and mandatory offer
- TRP (Takeover Regulation Panel) — the bilateral price became the regulatory offer floor
- Albie Cilliers — argues the block trade was used to suppress the minority offer price