He has published new items in his web site www.carian.co.za <www.carian.co.za> (see under the Nova Debenture Trust button)

On 9 March: www.carian.co.za/post/non-compliance-with-section-30-of-the-companie s-act-audited-annual-financial-statements-for-the-fi

It calls on CIPC to rule on the matter of the AFS publication deadline being as per the Companies Act, content, viz; six months after the end of the financial year in t eight of Nova Chair Myburgh’s persistence the Act’s requirements are only a guideline. It also contains statements on the unaudited AFS that nova lodged with CIPC in September last year and re which, Tromp states “These AFS clearly reflect a severe going concern risk and, in my opinion, indicate that the Nova Group is technically insolvent.”

On 10 March: www.carian.co.za/post/statement-on-the-nova-group-s-financial-positi on-and-official-complaint-to-the-cipc

This post deals with Tromp’s formal complaint to CIPC in May, 2025 about the state based on his analysis of the AFS up to the one for year-end 28 February, 2024

On 10 March: www.carian.co.za/post/nova-propgrow-group-holdings-limited-potential -r-414-694-327-debenture-shortfall
This post centres on Nova Chair Myburgh’s response to Tromps “Missing R 414,694,327” of September 30, 2025 nd correspondence between Tromp, CIPC Commissioner Advocate Rudi Voller and Myburgh

Tromp has echoed our views previously tabled with Cuma Zwane, Senior Investigator, Corporate Compliance and Disclosure Regulation Unit that urgent CIPC action against Nova is necessary and we wait to see what transpires

Hy het nuwe items op sy webwerf www.carian.co.za <www.carian.co.za> gepubliseer (sien onder die Nova Debenture Trust-knoppie)

Op 9 Maart: www.carian.co.za/post/non-compliance-with-section-30-of-the-companie s-act-audited-annual-financial-statements-for-the-fi

Dit doen ‘n beroep op CIPC om te beslis oor die kwessie van die publikasiedatum vir die finansiële jaarstate volgens die Maatskappywet, naamlik ses maande na die einde van die finansiële jaar, in agt van Nova-voorsitter Myburgh se volharding, maar die vereistes van die Wet is slegs ‘n riglyn. Dit bevat ook verklarings oor die ongeouditeerde finansiële jaarstate wat Nova verlede jaar in September by CIPC ingedien het, en waaroor Tromp sê: “These AFS clearly reflect a severe going concern risk and, in my opinion, indicate that the Nova Group is technically insolvent.”

Op 10 Maart: www.carian.co.za/post/statement-on-the-nova-group-s-financial-positi on-and-official-complaint-to-the-cipc

Hierdie plasing handel oor Tromp se formele klagte by CIPC in Mei 2025 oor die staat van die maatskappy gebaseer op sy ontleding van die AFS tot die een vir die einde van die jaar

On 10 March: www.carian.co.za/post/nova-propgrow-group-holdings-limited-potential -r-414-694-327-debenture-shortfall

Hierdie plasing fokus op Nova-voorsitter Myburgh se reaksie op Tromp se “Ontbrekende R 414,694,327” van 30 September 2025 en korrespondensie tussen Tromp, CIPC-Kommissaris Advokaat Rudi Voller en Myburgh

Tromp het ons sienings herhaal wat voorheen met Cuma Zwane, Senior Ondersoeker, Korporatiewe Nakoming en Openbaarmakingsreguleringseenheid, ter tafel gelê is dat dringende CIPC-optrede teen Nova nodig is en ons wag om te sien wat gebeur

Ons het inligting sedert ontvang wat verklaar het dat die interne oudit nog nie voltooi is nie, wat verder beteken dat die rekeninge nog nie eers aan die eksterne ouditeure vir hersiening en goedkeuring voorgelê is nie. Hierdie inligting het geen besonderhede ingesluit oor waarom die oudit nie voltooi is nie, maar dit verg nie te veel verbeelding om te glo dat die tyd dalk aangebreek het wanneer dit nie meer vir CEO/CFO Haese en Voorsitter Myburgh moontlik is om die boeke te manipuleer sodoende om ‘n aanvaarbare momentopname (snapshot) van ‘n lewensvatbare maatskappy te bied nie

Wat is die implikasies hiervan – van ‘n maatskappy wat aanhou aandring dat dit , ‘n “going concern” is en ….

“ …… here because we fundamentally believe we can succeed in getting as much of these investors’ historical money invested back to them. At Nova, we work tirelessly in achieving this goal; we have been and are their best chance to getting it done”

Dit is, na vyftien jaar van Nova-bestuur, so tragies vir die grootste deel van die agt-en-dertigduisend individuele Sharemax-beleggers en in baie gevalle hul opvolgers, wat steeds wag op skuldbriefterugbetaling en vir wie die Nova-missie (die publiek verklaarde een, in elk geval) was om die geld wat hulle belê het, terug te gee en wat hulle nêrens naby gekom het om te bereik nie, ten spyte van hul voortdurende versekerings en protes

Wat moet nou gebeur?

Ons glo dat daar te veel optrede deur die Voorsitter en die Raad was wat nie tot voordeel van die beleggers was nie en dat hulle duidelik misluk het om die vereistes van hul missie te lewer

Ons gaan selfs so ver as om ons mening te stel dat die doel van die sakeredding wat in 2011 voorgestel is, nooit oor die beleggers gegaan het nie, maar alles oor korporatiewe kaping en selfverryking met die doel om die geërfde eiendomsportefeulje van sy bates te stroop – wat grootliks bereik is en wat voortduur, alhoewel nie deur openlike optrede nie, maar deur slinksheid en onderduimse aksies

Ons glo dat die maatskappy nou onder administrasie geplaas moet word, maar nie met die oog op likwidasie nie – wat nie in die beste belang van die beleggers sou wees nie – maar met die oog daarop om die Voorsitter en die Raad van beheer oor die maatskappy te verwyder, dit onder ‘n tussentydse bestuur te plaas wie se enigste doel sal wees om te stabiliseer, te herbou en te groei sodat, ten minste, dié van die geërfde eiendomme wat op die boeke bly, hul ware doel kan dien, naamlik groei in waarde om die fondse te realiseer wat nodig is om die verwante skuldbriewe terug te betaal

Dit is geweldig ironies dat die voertuig vir die sakeredding in 2011 Nova PropGROW genoem is (of was dit ‘n doelbewus misleidende aksie?) en sedertdien was daar geen groei van enige aard nie en eintlik die teenoorgestelde en rampspoedig so!

Ons het gevolglik Cuma Zwane by CIPC oor die saak aangespreek per e-pos met hierdie pleidooi:

Hello Mr Zwane

As usual, Nova failed to publish their 2025 Annual Financial Statements by the deadline stipulated in the Companies Act. They have also now failed to publish by 28 February 2026. JP Tomp, the Nova Debenture Trustee may already have addressed you re this situation

We would like to appeal to CIPC (dare we demand?) for action via a famous quote (and an allegorical one for the purpose of this mail) from President Reagan at the Brandenburg Gate in Berlin on June 12, 1989 when he said:

MR GORBACHEV, TEAR DOWN THIS WALL!

In the same vein as Reagan’s appeal, we appeal to you: MR ZWANE: HAS THE NOVA BUSINESS RESCUE AND DEBENTURE REPAYMENT FARCE NOT NOW, AND DEFINITELY, GONE ON TOO LONG?

We are posting the following content in our Facebook page and web site and we urge you to take it on board and give it serious consideration (should you not already be contemplating such action):

We have received information stating that the internal audit has not yet been completed which further means that the accounts have not yet even been submitted to the external auditors for review and approval. This information did not include any detail as to why the audit is not finished but it does not require too much imagination to believe that maybe the time has arrived when it is no longer possible for CEO/CFO Haese and Chair Myburgh to juggle the books sufficiently so as to present an acceptable snapshot of a viable company

We are of the strong opinion that the Chair and Board of Nova can no longer be allowed to continue as they have been doing since around 2013. We believe that they do not have, and have never have had, the interests of the Sharemax investors at heart and as their guiding star

We believe that there have been too many actions by the Chair and the Board that have not been for the benefit of the investors and that they have manifestly failed to deliver the obligations of their mission (the publicly stated one, anyway)

We go so far as to state our opinion that the purpose of the business rescue put forward in 2011 was never about the investors and all about corporate capture and self-enrichment with the intention to strip the inherited property portfolio of its assets – which has largely been achieved and which continues albeit not through overt actions but by deviousness and subterfuge

We believe that the company should now be put under administration but not with a view to liquidation – which would not be in the best interests of the investors – but with a view to removing the Chair and the Board from control of the company, placing it under an interim management whose sole purpose will be to stabilise, re-build and grow so that, at the very least, those of the inherited properties that remain on the books can serve their true purpose, viz; growing in value in order to realise the funds necessary to repay the related debentures

There are some lines in an old English hymn titled The Church’s One Foundation” which read:

Yet saints their watch are keeping, their cry goes up, “How long?” And soon the night of weeping shall be the morn of song!

For the Sharemax investors it’s more a case of: When will the night of weeping, become the morn of song?

CIPC can make that happen, at least in part, by an immediate action against the Chair and the Board of Nova

Thank you in hope of what we deem would be an entirely appropriate action

We have since received information stating that the internal audit has not yet been completed which further means that the accounts have not yet even been submitted to the external auditors for review and approval. This information did not include any detail as to why the audit is not finished but it does not require too much imagination to believe that maybe the time has arrived when it is no longer possible for CEO/CFO Haese and Chair Myburgh to juggle the books sufficiently so as to present an acceptable snapshot of a viable company

What are the implications of this – from a company that keeps insisting that it is solvent, is a going concern and is ..

” .. here because we fundamentally believe we can succeed in getting as much of these investors’ historical money invested back to them. At Nova, we work tirelessly in achieving this goal; we have been and are their best chance to getting it done”

This is, after fifteen years of Nova stewardship, so tragic for the greater portion of the thirty-eight thousand individual Sharemax investors and in many cases, their successors, who still await debenture repayment and for whom the Nova mission ( the publicly declared one, anyway) was to return the money that they invested and re which they have come nowhere near to achieving despite their ongoing assurances and protestations

What should happen now?

We are of the strong opinion that the Chair and Board of Nova can no longer be allowed to continue as they have been doing since around 2013. We believe that they do not have, and have never had, the interests of the Sharemax investors at heart and as their guiding star

We believe that there have been too many actions by the Chair and the Board that have not been for the benefit of the investors and that they have manifestly failed to deliver the requirements of their mission

We go so far as to state our opinion that the purpose of the business rescue put forward in 2011 was never about the investors and all about corporate capture and self-enrichment with the intention to strip the inherited property portfolio of its assets – which has largely been achieved and which continues albeit not through overt actions but by deviousness and subterfuge

We believe that the company should now be put under administration but not with a view to liquidation – which would not be in the best interests of the investors – but with a view to removing the Chair and the Board from control of the company, placing it under an interim management whose sole purpose will be to stabilise, re-build and grow so that, at the very least, those of the inherited properties that remain on the books can serve their true purpose, viz; growing in value in order to realise the funds necessary to repay the related debentures

It is hugely ironic that the vehicle for the business rescue was named Nova PropGROW in 2011 (or was that a deliberately misleading action?) and since when there has been no growth of any sort and in fact quite the opposite and disastrously so!

We have accordingly, addressed Cuma Zwane at CIPC on the matter via mail with this plea:

Hello Mr Zwane

As usual, Nova failed to publish their 2025 Annual Financial Statements by the deadline stipulated in the Companies Act. They have also now failed to publish by 28 February 2026. JP Tomp, the Nova Debenture Trustee may already have addressed you re this situation

We would like to appeal to CIPC (dare we demand?) for action via a famous quote (and an allegorical one for the purpose of this mail) from President Reagan at the Brandenburg Gate in Berlin on June 12, 1989 when he said:

MR GORBACHEV, TEAR DOWN THIS WALL!

In the same vein of Reagan’s appeal, we appeal to you, MR ZWANE: HAS THE NOVA BUSINESS RESCUE AND DEBENTURE REPAYMENT FARCE NOT NOW, AND DEFINITELY, GONE ON TOO LONG?

We are posting the following content in our Facebook page and web site and we urge you to take it on board and give it serious consideration (should you not already be contemplating such action):

We have received information stating that the internal audit has not yet been completed which further means that the accounts have not yet even been submitted to the external auditors for review and approval. This information did not include any detail as to why the audit is not finished but it does not require too much imagination to believe that maybe the time has arrived when it is no longer possible for CEO/CFO Haese and Chair Myburgh to juggle the books sufficiently so as to present an acceptable snapshot of a viable company

We are of the strong opinion that the Chair and Board of Nova can no longer be allowed to continue as they have been doing since around 2013. We believe that they do not have, and have never have had, the interests of the Sharemax investors at heart and as their guiding star

We believe that there have been too many actions by the Chair and the Board that have not been for the benefit of the investors and that they have manifestly failed to deliver the obligations of their mission (the publicly stated one, anyway)

We go so far as to state our opinion that the purpose of the business rescue put forward in 2011 was never about the investors and all about corporate capture and self-enrichment with the intention to strip the inherited property portfolio of its assets – which has largely been achieved and which continues albeit not through overt actions but by deviousness and subterfuge

We believe that the company should now be put under administration but not with a view to liquidation – which would not be in the best interests of the investors – but with a view to removing the Chair and the Board from control of the company, placing it under an interim management whose sole purpose will be to stabilise, re-build and grow so that, at the very least, those of the inherited properties that remain on the books can serve their true purpose, viz; growing in value in order to realise the funds necessary to repay the related debentures

There are some lines in an old English hymn titled The Church’s One Foundation” which read:

Yet saints their watch are keeping, their cry goes up, “How long?” And soon the night of weeping shall be the morn of song!

For the Sharemax investors it’s more a case of: When will the night of weeping, become the morn of song?

CIPC can make that happen, at least in part, by an immediate action against the Chair and the Board of Nova

Thank you in hope of what we deem would be an entirely appropriate action