Laurence Wernars Resigns from the NHRA

PRESS RELEASE

RESIGNATION OF NATIONAL BOARD DIRECTOR – MR LAURENCE WERNARS

The National Horseracing Authority confirms that Mr Laurence Wernars tendered his resignation as a National Board Director with immediate effect.

Mr Wernars was appointed to the National Board as a Member domiciled in the Central Provinces on 10 December 2019. The National Board would like to thank Mr Wernars for his contributions.

In terms of clause 15.4.5.1 of the Constitution of The National Horseracing Authority, a new candidate is being sought to fill the vacancy on the National Board.


Kind regards



Susan Rowett
Chairperson

I have it on good authority, that it’s because of the witch hunt against his horses and ultimately the enquiry into the Chase Maujean ride

Surely he has got to be stronger than that.

I'm not sure what his problem is. Why would he care about an investigation into the ride on his horse Puerto Manzano? From the looks of things judging by the ratings given to both the dead heaters by the handicapper he was given a few presents and if anything, has been favourably treated.

....:ohmy:.....was considering on diving into horse ownership.....and now worried that my potential string may be handicapped out of contention....because I inferred that the CEO of the NHRA is a CAKE.....:lol:

Why do the Wernars not do winning interviews?

If my memory serves me well I think he said he would do one if it is a grade 1 race.

4 winners for Wernars colours. 2 seconds and one 4th.

Commentator drones on about owners in most races etc.

does not mention the wernars.

@Sly,

This is our BEE comentator, Brandon Economic Empowerment.

He fits in perfectly with 4Q and Cecil..... birds of a feather.

When racing people run this operation you will see a product that is in touch with reality

I see Mr Price has bought Studio 88 Group for R3.3 billion rands. Studio 88 was founded by Laurence Wernars. Is this the same person in horseracing?

www.moneyweb.co.za/news/companies-and-de...-stake-in-studio-88/


JSE-listed clothing, homeware and sport retail giant Mr Price has announced another surprise acquisition. This time it’s a R3.3 billion majority stake in unlisted Johannesburg-based clothing retail group Studio 88.

Mr Price confirmed the deal in a Sens statement on Wednesday morning, saying the acquisition represents “a controlling shareholding in the Studio 88 Group”.

The latest expansionary move follows the Durban-headquartered group securing major stakes in upmarket omni-channel home retailer Yuppiechef as well as lower LSM clothing retailer Power Fashions over the past 18 months.

Read:
Mr Price gets CompCom backing for R500m Yuppiechef deal
Mr Price acquires family-owned Power Fashions
Mr Price in surprise deal to buy Yuppiechef

“Mr Price is pleased to announce that on April 12, 2022 it entered into transaction agreements to acquire 70% of Blue Falcon Trading 188 (Proprietary) Limited, which owns the Studio 88 group of businesses, from RMB Ventures Six (Proprietary) Limited and current management of the Studio 88 Group,” it says in the Sens.

“The R3.3 billion purchase consideration in relation to the sale shares [and] represents approximately 6% of Mr Price’s market capitalisation at 11 April 2022. The transaction will be fully funded through existing cash resources of the group,” the group adds.

According to Mr Price, the Studio 88 Group is the largest independent retailer of branded leisure, lifestyle and sporting apparel and footwear in South Africa, generating revenue of R5.6 billion for the financial year ended 30 September 2021.

“It is a founder-led business which has been operating in Southern Africa since 2001. The business owns and operates retail outlets that offer clothing, footwear and accessories, trading through Studio 88, SideStep, Skipper Bar, John Craig and other chains,” the group notes in its Sens.

Read: Studio 88 owner saves John Craig retail chain and 422 jobs

“The Studio 88 Group is focused on consumers who make aspirational fashion choices. The merchandise range is a mix of international brands, some of which are under exclusive license agreements, as well as private label ranges.”

“The business operates through in excess of 700 stores, predominantly based in South Africa, which are positioned in central business districts‚ regional malls and rural high streets, and via its e-commerce platforms,” adds Mr Price.

It also notes that Studio 88 Group “is highly cash generative and operates on a cash-only basis, which contributes to its value positioning”.

Mr Price’s share price surged on news of the deal, closing almost 7% up on Wednesday at R225.75 a share.

Yes Naresh

That's why Studio 88 sponsors groom prizes in JHB

Wernars are all rounders - Owners, Breeders and big punters

See Zietman has a horse from him Well done.