Published 12 November 2019, by Sizwe Dlamini

CAPE TOWN – Sekunjalo Independent Media (SIM) on Tuesday received an application for its liquidation from the Public Investment Corporation (PIC) citing SIM and its executive chairperson Dr Iqbal Survé as respondents.

SIM spokesperson Takudzwa Hove, when reached for comment, pointed out that, among the many errors in the supporting affidavit, the PIC and its advisors cited the incorrect parties to the relevant legal agreements.

“This action is not only incompetent and mala fide but malicious, on the part of the PIC and its advisors.

“SIM is of the firm belief this action is designed as a further attempt to embarrass and undermine the Sekunjalo Group and Dr Survé personally and is aimed at provoking a run on SIM’s major subsidiary, Independent Media, which is fully operational. This is part of a series of co-ordinated attacks on Independent Media, and ultimately, an attack on media freedom,” said Hove.

He said the PIC and its advisors had elected not to disclose in their court papers, SIM’s letter of September 30, addressed to its attorneys by SIM, wherein it is explained that SIM was not indebted to the PIC for any sum.

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Published, 7 November 2019 Business Report

Cape Town – Sekunjalo Investment Holdings (Sekunjalo) has hit back at the search and seizure raid conducted by the Financial Sector Conduct Authority (FSCA) at its offices on 9 October.

The application requests the court to order the FSCA to return its seized documentation, unopened and declare the raid unconstitutional.

Sekunjalo said that in February 2019, Sekunjalo requested the FSCA to investigate share trades in three Johannesburg Stock Exchange (JSE) listed companies within the Sekunjalo Group – AEEI, Premier Fishing & Brands and AYO Technology Solutions Ltd. It requested the FSCA to launch an urgent investigation and in particular, focus its attention on certain trades that had been conducted over the preceding six  months.

Sekunjalo says that it believed the transactions were aimed at lowering the share prices to profit from shorting the shares in AEEI, Premier Fishing s and Brands and AYO.

Please read full article here.