What’s going on?

by | Mar 24, 2022 | Announcements

Following the January voting meetings which led to the appointment of Mr JP Tromp as the new Debenture Trust Trustee we entered into discussions with him as well as other entities
We await outcomes of these interactions and will inform members of same via this site and our Facebook page in due course
In the meantime, members might be interested in the background to Ryk van Niekerk’s’ February 9 post in Moneyweb titled “Sharemax Investors screwed twice” (copied in this site as well as our Facebook page: Sharemax Investors/Nova Debenture Creditors)
Why screwed twice? Two November 2016 Moneyweb posts by Ryk (see links below) give the explanation of the first swindle
They detail:
* the corporate capture of Sharemax/Nova
* how the very people who are supposed to ensure that the Sharemax investors (who opted for Nova Debentures instead of shares) are paid out as required per the four (Court sanctioned) Schemes of Arrangement but have not done so (to the extent required)
* how certain “insiders” – to the detriment of the original investors – acquired, through a single line of “small print” in the SoAs, a majority shareholding in the then still to be formed Nova Property Group and thus, effectively, ownership of the Sharemax assets (the properties in which the Sharemax investors were originally shareholders) – tangible assets as opposed to the questionable value of the debentures which replaced the Sharemax shareholdings

Part 1: ‘Corporate capture’ of Sharemax rescue vehicle
<www.moneyweb.co.za/news/companies-and-deals/nova-monkey-business-pa rt-2/> www.moneyweb.co.za/news/companies-and-deals/nova-monkey-business-par t-2/
Part 2: Shareholder structure hides how directors acquired 87.1% of Nova shares
www.moneyweb.co.za/in-depth/investigations/shareholder-structure-hid es-how-directors-acquired-87-1-of-nova-shares/

Wat is aan die gang?

by | Mar 24, 2022 | Announcements

Na afloop van die Januarie-stemvergaderings wat gelei het tot die aanstelling van Mnr JP Tromp as die nuwe Skuldbrief Trustee het ons met hom sowel as ander entiteite in gesprek gegaan.
Ons wag op die uitkomste van hierdie interaksies en sal mettertyd lede daarvan inlig via hierdie webwerf en ons Facebook-blad
Lede sal dalk intussen belangstel in die agtergrond van Ryk van Niekerk se 9 Februarie Moneyweb artikel, getiteld “Sharemax Investors Screwed Twice” (geplaas in hierdie webwerf sowel as ons Facebook-blad: Sharemax Investors/Nova Debenture Creditors)
Hoekom twee keer “geskroef”? Twee November 2016 Moneyweb artikels deur Ryk (sien skakels hieronder) gee die verduideliking van die eerste swendelary (Jammer, dié is slegs in Engels beskibaar)
Die artikels spel uit hoe:

* die korporatiewe vaslegging (corporate capture) van Sharemax/Nova gebeur het * die einste mense wat veronderstel is om te verseker dat die Sharemax-beleggers (wat Nova-skuldbriewe in plaas van aandele gekies het) uitbetaal word soos vereis volgens die vier hof-gesanksioneerde Reëlingskemas, maar dit nie gedoen het nie (in die mate wat vereis word) * sekere binnekringers – tot nadeel van die oorspronklike beleggers – deur ‘n enkele reël “fynskrif” in die Reelingskemas ‘n meerderheidsaandeelhouding in die toe nog te stigte Nova Property Group verkry het en dus, effektief, eienaarskap van die mederheid van die Sharemax-bates gekry het (dws: die fisiese eiendomme waarin die Sharemax-beleggers oorspronklik aandeelhouers was) – tasbare bates in teenstelling met die twyfelagtige waarde van die skuldbriewe wat die Sharemax-aandeelhouding vervang het

Part 1: ‘Corporate capture’ of Sharemax rescue vehicle
<www.moneyweb.co.za/news/companies-and-deals/nova-monkey-business-pa rt-2/> www.moneyweb.co.za/news/companies-and-deals/nova-monkey-business-par t-2/
Part 2: Shareholder structure hides how directors acquired 87.1% of Nova shares
<www.moneyweb.co.za/in-depth/investigations/shareholder-structure-hi des-how-directors-acquired-87-1-of-nova-shares/> www.moneyweb.co.za/in-depth/investigations/shareholder-structure-hid es-how-directors-acquired-87-1-of-nova-shares/