European shopping centre giant did not engage in false financial reporting 2017
Nepi Rockcastle, the second largest listed property company on the JSE, has cleared another hurdle in its bid to put the Resilient group scandal behind it after SA's highest financial market regulator cleared it of false and misleading reporting.
Nepi Rockcastle was part of the Resilient group of companies along with Resilient, Fortress and Lighthouse Capital, which together lost more than R100bn last year in the biggest scandal to hit the listed property sector. Following the sell-off, the listed property index delivered a negative total return of 25.26% in 2018, its worst performance in more than 20 years.
"We are satisfied based on evidence currently available, that there is no substance in the allegations made that Nepi Rockcastle plc intentionally or negligently made or published false statements in respect of the past or future performance, being the 31 December 2017 financial statements," he said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Julius Malema ordered to retract 'false Alexandra project graft' claimsEFF leader Julius Malema has been given two days to withdraw 'defamatory' statements against ANC activist Mike Maile, that the firebrand made during a May Day rally in Alexandra on Wednesday.
Read more »
OP-ED: The false choice between reburials and justice for the Gukurahundi victimsThe promise by Zimbabwean President Emmerson Mnangagwa that victims of the Gukurahundi massacres in Matabeleland will be reburied is the first official acknowledgement that the killings took place. But families of victims should not be in a hurry – the killings were a crime against humanity, Mnangagwa was involved in the planning of the Gukurahundi, and evidence must be preserved.
Read more »
Julius Malema ordered to retract 'false Alexandra project graft' claimsEFF leader Julius Malema has been given two days to withdraw 'defamatory' statements against ANC activist Mike Maile, that the firebrand made during a May Day rally in Alexandra on Wednesday.
Read more »
Durban reservoir 'bombing claims false' but sabotage not ruled outThe police have rubbished claims that a reservoir in Montclair, south Durban, was 'bombed' during the municipal workers' strike.
Read more »
Durban reservoir 'bombing claims false' but sabotage not ruled outThe police have rubbished claims that a reservoir in Montclair, south Durban, was 'bombed' during the municipal workers' strike. strike.
Read more »
Relief as #CycloneKenneth stays clear of SA | Daily NewsHeavy rain battered northern Mozambique yesterday as residents and relief workers confronted the widespread devastation wrought by Cyclone Kenneth
Read more »
US attorney-general Barr defends clearing Trump on obstruction of justiceTrump appointee William Barr tells tense Senate judiciary committee hearing the state did not have a 'prosecutable case'
Read more »
OP-ED: Writing the 2019 Elections: South Africa has a clear choice between progress and chaosThe question of trust is key. It has to do with the integrity of the next president, coupled with capabilities, credibility, perception, and various forms of capital to effectively lead South Africa out of the incredible omnishambles of the past 10-12 years. To understand this, you would need much more than that which can be quantified or explained rationally. It requires a leap of faith, with a firm grip on problems that beset the country, the region, the global political economy — and a deep well of power to beat the resistance to progressive change.
Read more »
SABC says ‘Sunday World’ reporting on its execs ‘extremely concerning’The public broadcaster claims the publication's reporting on its board executives and staff was misleading malicious and bordered on harassment.
Read more »
Congress and US attorney-general set to clash over Mueller report deadlineLegislators are preparing to begin contempt proceedings against William Barr if he fails to hand over the unredacted report by Robert Mueller
Read more »