South African Van der Walt brothers boost RMB Holdings stake to $34 million

South African brothers Faan and Dirk van der Walt have expanded their influence in RMB Holdings Limited by acquiring additional shares valued at $34 million.

The acquisitions, which expand their total stake to more than 42% in a series of on- and off-market share acquisitions, were executed through AttBid Proprietary Limited, increasing their combined direct stake to 9.67%, alongside their 32.77% indirect stake owned through Atterbury Property Fund.

Completed between March 23 and 27, 2026, through on-market and off-market trades, the move signals a strategic push to strengthen long-term influence over RMH’s operations and corporate strategy.

Stepwise accumulation of RMH shares
Between March 23 and March 27, 2026, AttBid acquired a total of 3,420,025 RMH shares at R0.47 per share: 270,813 shares on March 23; 199,932 on March 24; 2,579,015 on March 25; 202,626 on March 26; and 168,639 on March 27. These acquisitions follow earlier commitments outlined in the joint firm intention announcement with RMH on February 9, 2026, and the subsequent mandatory offer announcement on February 24, 2026.

Following the transactions, AttBid holds 9.67% of RMH’s issued shares, while Atterbury Property Fund (APF) maintains a 32.77% stake, resulting in a combined shareholding of approximately 42.44%. The acquisitions have been disclosed to the Takeover Regulation Panel (TRP) in compliance with the regulatory procedures of 2008 and 2011.

Strategic intent and regulatory compliance
AttBid has signaled that it may continue acquiring RMH shares during the offer period, in line with regulatory requirements. The firm emphasized that any further purchases will be fully disclosed as mandated under South African corporate law, reflecting AttBid’s commitment to transparency and responsible corporate governance.

Oversight and advisory support
The transactions were supported by Pallidus Group as transaction adviser and Alchemy Law as legal adviser to AttBid, with BSM Sponsors serving as sponsor to RMH and Webber Wentzel acting as legal counsel to RMH. The directors of AttBid have accepted responsibility for the accuracy of the disclosure, affirming that the announcement contains all material information relevant to shareholders and the market.

For the Van der Walt brothers, South African entrepreneurs and co-founders of WeBuyCars, with over 24 years of experience in the automotive industry. They are known for building WeBuyCars into one of South Africa’s leading automotive platforms. The move marks a deeper push into capital markets and long-term asset ownership.

This strategic accumulation underscores AttBid’s long-term investment thesis in RMB Holdings, positioning the firm to play a more prominent role in shaping the company’s corporate strategy and unlocking shareholder value in South Africa’s financial services sector.