Terrence Moolman’s Caxton takes stake worth $6 million in Transpaco as chairman exits

South African media and publishing group Caxton & CTP Publishers & Printers Ltd, led by multimillionaire investor Terrence Moolman, has acquired a beneficial interest worth over $6 million in Transpaco Limited, a Johannesburg-listed packaging manufacturer, following the complete disposal of a 5.79% stake by non-executive chairman Derek Thomas.

In a regulatory announcement dated November 3, 2026, Transpaco disclosed that it had received notification from Caxton & CTP Publishers & Printers Ltd (CTP) that the company had acquired a beneficial interest of 8.007% of its issued ordinary shares.

Caxton strengthens position in South African packaging

The R102.53 million ($6.21 million) acquisition, which translates to more than 2.22 million shares, follows the exit of Letsema Strategy Services Pty Ltd, whose beneficial interest in Transpaco has fallen to zero after disposing of its entire shareholding. 

The transaction comes less than 24 hours after Transpaco’s non-executive chairman, Derek John Jefferson Thomas, who has been with the packaging company for over 11 years, sold 1,611,787 ordinary shares, representing approximately 5.79% of the packaging group, in an open-market transaction on November 2.

The shares were sold at R46 apiece, bringing the value of the disposal to approximately R74.14 million ($4.5 million). Letsema is linked to Thomas, who has served as Transpaco’s non-executive chairman for more than 11 years. Caxton’s acquisition gives the publishing group a significant interest in Transpaco, expanding its exposure beyond its established media and printing operations into the listed packaging manufacturer.

The 8.007% beneficial interest was disclosed in accordance with Section 122 of South Africa’s Companies Act and the Johannesburg Stock Exchange’s Listings Requirements. Transpaco also confirmed that it had filed the required notices with the Takeover Regulation Panel.

Terrence Moolman’s commanding interest in Caxton

Moolman, a prominent South African media executive and investor, holds more than 53% direct and indirect interest in Caxton, giving him a controlling position in the publishing group.

Founded in 1980 by Moolman and Noel Coburn, Caxton has grown into one of South Africa’s established media, printing and packaging businesses. Its portfolio includes 88 newspapers and 15 magazines, alongside commercial printing and packaging operations.

The group’s investment in Transpaco adds another listed industrial company to its business interests, while giving it exposure to a manufacturer operating in South Africa’s packaging sector.

Transpaco chairman’s exit marks ownership shift

Derek Thomas’s departure from the investment through Letsema marks a notable change in Transpaco’s shareholder structure, with Caxton emerging as a significant beneficial shareholder.

While the regulatory announcement confirms both the complete disposal by Letsema and CTP’s acquisition, it does not establish whether the two transactions were directly connected or whether Caxton purchased the shares sold by Letsema.

The board of Transpaco accepted responsibility for the announcement, which was issued in Johannesburg on November 3, with Investec Bank Limited acting as sponsor.

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Transpaco chair Derek Thomas offloads entire $4.5 million stake in South African packaging firm