Dis-chem Founder Ivan Saltzman Restructures 377.7 Million Stake Among Heirs

Ivan and Lynette Saltzman transferred 377.7 million in Dis-Chem shares to heirs Dan and Mark, reducing their holding via Ivlyn without affecting market liquidity.

The move follows a 2024 share transfer of 47 million to Dis-Chem executives under a vendor-financed management retention scheme to strengthen leadership continuity.

The intra-family restructuring underscores Dis-Chems broader succession strategy amid a growing trend of balancing legacy control with modern governance practices.

In a strategic effort to preserve family control and ensure long-term leadership continuity, Dis-Chem Pharmacies founder Ivan Saltzman and his wife Lynette have restructured a 377.7 million portion of their 29.31 percent majority stake in the pharmacy retail chain, reallocating the shares within the Saltzman family.This underscores the companys commitment to preserving its entrepreneurial roots while strengthening executive alignment.

The off-market transfertotaling over 217 million ordinary shareswas executed via Ivlyn Local Investment Holdings and involved no cash consideration. The transaction does not impact the liquidity of Dis-Chems shares on the Johannesburg Stock Exchange JSE.

As part of the redistribution , 25.24 percent of Dis-Chems shares were transferred at no cost to two of the couples three sons, Dan and Mark Saltzman, who now each hold a 12.62 percent beneficial interest, up from zero. Consequently, Ivlyns stake has decreased from 29.31 percent to 4.06 percent.

The latest transaction follows a similar move a year ago , when the Saltzman family transferred 47 million worth of shares to Dis-Chem executives under a management retention schemedesigned to support long-term leadership continuity, align incentives, and strengthen executive commitment. That deal involved 34.9 million vendor-financed shares and granted CEO Rui Morais and seven senior executives off-market options to acquire equity at no upfront cost.

This intra-family redistribution forms part of a broader succession and governance strategy, aimed at reinforcing family involvement while empowering the next generation of leadership. The transaction was executed in full compliance with Dis-Chems share dealing policies and received all necessary regulatory clearances.