<www.cipc.co.za/?p=21307> www.cipc.co.za/?p=21307
It is not the investigation Interim Report that has been awaited for so long. Rather, it can be seen as a confirmation that the investigation into Nova and the PSPC industry close-down is ready for the next-steps
Perhaps, it has also been issued to allay the concerns and frustrations that have arisen over the apparent lack of progress towards outcomes that should lead to relief for the PSPC investors and to assure affected and interested parties that CIPC fully intends to take it to a point where appropriate findings and recommendations have been formulated and then to place any matters which are labelled as having been irregular and/or illegal in terms of historic actions that led to the PSPC industry shutdown, before appropriate regulators and authorities for consideration and possibly, further action
Note also that the eventual outcomes will also cover Nova’s activities and failures which led to the investigation in the first place and should include findings and recommendations on the company’s, viability and future
But, it is also pointed out that some of the findings may well lead to litigation and court cases which could result in further delays before final resolution is achieved

On Friday 2 August, Ryk van Niekerk of Moneyweb has expressed his frustration at these ongoing delays via this post:

www.moneyweb.co.za/news/south-africa/cipc-investigation-into-who-san k-sharemax-and-other-schemes-has-ground-to-a-halt/.

But, his frustration cannot be greater that that of the people who have been fighting for justice for the Sharemax and other PSPC company investors, for so long.

More so, it cannot be greater than the frustrations of the Sharemax investors/the Nova Debenture Holders, who (or most of whom) have been waiting for delivery of funds repayment out of the Sharemax Business Rescue Plan (BRP) for so many years.

It has now been advised that the CIPC Commissioner wants the Department of Trade, Industry & Competition (DTIC) brought into the loop by way of them having to be informed of where the investigation stands and what, if any, their (DTIC’s) involvement in the PSPC industry back in the day, might have been.

This, of course, means yet another delay whilst DTIC addresses the matter.

The investigation has been on the go for some two years now and the CIPC report which should originally have been released late in 2023 is still awaited.

How much longer before the Sharemax investors get what’s rightfully due to them? Will we now even see any such outcome this year?

Ryk van Niekerk van Moneyweb het Vrydag 2 Augustus sy frustrasie oor hierdie voortdurende vertragings uitgespreek via hierdie pos:

www.moneyweb.co.za/news/south-africa/cipc-investigation-into-who-sank-sharemax-and-other-schemes-has-ground-to-a-halt/.

Maar sy frustrasie kan nie groter wees as dié van die mense wat so lank vir geregtigheid vir die Sharemax en ander PSPC-maatskappybeleggers geveg het nie.

Meer nog, dit kan nie groter wees as die frustrasies van die Sharemax-beleggers/die Nova-skuldbriewehouers nie, wat (of die meeste van wie) al vir soveel jare wag vir terugbetaling van hul skuldbriewe onder die Sharemax Besigheidsreddingsplan (BRP).

Daar is nou in kennis gestel dat die CIPC-kommissaris wil hê dat die Department of Trade, Industry & Competitiion (DTIC) in die lus gebring moet word deurdat hulle ingelig moet word oor waar die ondersoek staan ​​en wat, indien enige, hul (DTIC) se betrokkenheid by die PSPC-industrie destyds sou gewees het.

Dit beteken natuurlik nog ‘n vertraging terwyl DTIC die saak aanspreek.

Die ondersoek is nou al sowat twee jaar aan die gang en daar word nog gewag op die CIPC-verslag wat oorspronklik laat in 2023 vrygestel moes word.

Hoe lank nog voordat die Sharemax-beleggers kry wat regmatig aan hulle toekom? Sal ons nou selfs hierdie jaar so ‘n uitkoms sien?

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