South African executive and non-executive chairman of Transpaco Limited, Derek John Jefferson Thomas (Derek Thomas), has disposed of his entire indirect beneficial interest in Transpaco Limited, selling shares worth $4.5 million through his associated investment company, Letsema Strategy Services Proprietary Limited, according to a Johannesburg Stock Exchange disclosure published on November 3, 2026.

The transaction involved 1,611,787 ordinary shares, representing a 5.79% stake in the South African packaging manufacturer. The shares were sold on the open market on November 2 at R46 apiece, bringing the total value of the disposal to R74.14 million ($4.5 million).

Following the sale, Letsema Strategy Services’ beneficial interest in Transpaco has fallen to zero, marking its complete exit from the investment. Derek Thomas, however, remains the packaging company’s non-executive chairman as of report writing, a position he has held for more than 11 years.

Derek Thomas ends indirect shareholding after two decades at Transpaco

The disposal marks a significant change in Thomas’s investment relationship with Transpaco, where he has served on the board since June 2005 and as chairman since July 1, 2015.

The company’s 2026 integrated annual report identifies him as a non-executive director involved in its governance and strategic oversight. Transpaco has also proposed his re-election as a director at its annual general meeting scheduled for December 2026.

Derek Thomas is also associated with Letsema Group, a South African investment holding company established in 1996 by Isaac Shongwe. He joined during its early development as a founding shareholder and currently serves as chief executive, helping oversee its investments across several industries.

Letsema built investments across multiple industries

Letsema’s portfolio has included businesses operating in pharmaceuticals, packaging, logistics, forestry, industrial services, speciality chemicals and insurance.

Its historical investments include Cirebelle, a speciality chemicals manufacturer; ServWorx, an industrial workwear and services business; Normandien Farms, a forestry and sawmilling company; and Transnova, a logistics advisory and technology business in which it acquired a 51% stake in 2019.

Through its partnership with the South African trade union CEPPWAWU, Letsema also established CEPPWAWU Investments, an investment vehicle that developed interests in listed companies including Aspen Pharmacare, Nampak, Sasol and Transpaco. Thomas previously led the investment company, overseeing its portfolio and investment activities.

His corporate leadership roles have also extended to the property sector. In August 2017, he joined the board of Emira Property Fund as an independent non-executive director.

EY acquisition marks strategic restructuring at Letsema

The Transpaco disposal comes as Letsema undergoes a strategic restructuring. In July 2026, professional services firm EY acquired the group’s advisory business, bringing 44 consultants into its South African consulting operations.

The transaction excluded Letsema’s corporate finance and investment activities, which remain within the group as it focuses on its insurance and mining businesses.

The JSE disclosure identifies Letsema Strategy Services as the seller and Derek Thomas as a director and shareholder of the investment company. However, it does not establish how the proceeds will be distributed or what portion, if any, will accrue personally to Thomas.