PIC wants to 'investigate' Sekunjalo directors after liquidation | Fin24
Whether or not Hove’s argument makes it into court papers, it seems incongruous because the set of transactions that were meant to take place between Sagarmatha and SIM were conditional on the listing, which never happened. “One of the suspensive conditions of the agreement was the successful listing of Sagarmatha which ultimately never happened and therefore the agreement never became operational and lapsed,” said Matjila.
Like Survé’s controversial AYO Technology Solutions, Sagarmatha would have received billions from the PIC . Earlier this year ANA fired all its employees citing financial difficulties, but then mysteriously offered to rehire all of them less than a month later. Interacom has displaced the PIC as SIM’s major funder by lending it nearly R1bn.
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.
PIC applies to liquidate Sekunjalo MediaThe Public Investment Corporation (PIC) has lodged an application to liquidate Sekunjalo Independent Media (SIM), serving papers on the company yesterday.
Read more »
PIC move on Sekunjalo Independent Media 'an attack on media and black people' | IOL NewsThe Pan Africanist Party of Azania has called on South Africans and the ANC in particular to not allow the 'onslaught' on Independent Media to continue.
Read more »
PIC seeks liquidation of Sekunjalo Independent MediaThe company has dismissed the application as ‘frivolous’ and says it will oppose it
Read more »
PIC seeks liquidation of Sekunjalo Independent MediaThe company has dismissed the application as ‘frivolous’ and says it will oppose it
Read more »