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?