Laurie Dippenaar gives his answer.

JOHANNESBURG - FirstRand (JSE:FSR) and RMB's founders have just sold R400m worth of shares to the new guard, that's a lot of coin, so what exactly do they plan to do with it?

Laurie Dippenaar one of the three founders (the other two were Paul Harris and Gerrit Ferreira) who sold shares told Moneyweb "I would need a helluva lifestyle to need that cash" he says when asked if his money would go towards living expenses.

Dippenaar says he will probably invest the money, although he stresses that the founders only get the cash in about four years time, once the funding structure is wound up, thus, none of the founders have really given much thought how they will spend it.

His personal investment philosophy is to look for a company with a good, sustainable dividend yield, but he would not say which company fulfils this criteria. He likes to keep his investment movements/ideas private.

Dippenaar believes this is the best strategy for himself and his family. He calls it a "co-pilot" strategy, so that if something happens to him, there is continuity. This also allows him to bounce ideas off the manager.

The one nugget Dippenaar does offer is, "I invest for the long-term, I'm a buy and hold person very similar to Kokkie Kooyman. I am a big investor in Kokkie's funds."

Dippenaar, Harris and Ferreira sold 22.8m FirstRand shares at R16.06 a share and 1.2m RMBH shares at R26.84 to:

    * New FirstRand CEO Nxasana (3.7m FirstRand shares)

    * FirstRand Chief Operating Officer Johan Burger (5m FirstRand shares)

    * RMBH Chief Operating Officer and Financial Director Peter Cooper (1.2m RMBH shares)

    * A collection of other FirstRand executives (14.1m FirstRand shares)

 Write to Chris Blaine: chris@moneyweb.co.za

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