He has informed that whilst the application for extension stated that the AFS would be finalised by 7 August, this has not yet eventuated. He alleges that the company “made a material misrepresentation to the Tribunal” and that they:

* take the matter up with Nova by way of: “…request formal feedback from both the Directors of the Nova Group and the external auditors regarding the matters raised above * and take action via ” …the Tribunal should seriously reconsider the factual representations initially placed before it. I am of the opinion that the Directors of the Nova Group deliberately provided an unrealistic completion date in an attempt to create the impression that the audit was nearing completion, despite knowing that the guarantees from the prospective purchaser of the Flora property would likely not be furnishing guarantees before 31 August 2026.

Please note: We are aware that the pdf documents posted in the Carian web site cannot be viewed on-screen but require download and saving. This is inconvenient and we have addressed Tromp on the matter requesting appropriate changes to make it easier to open the posted documents He has responded that tis will be addressed in order to remove the difficulty and inconvenience

Pending such change, the relevant documentation relevant to this post, can be viewed here:

<www.ndcag.co.za/go/270820261> www.ndcag.co.za/go/270820261

<www.ndcag.co.za/go/202608272> www.ndcag.co.za/go/202608272

<www.ndcag.co.za/go/202608273> www.ndcag.co.za/go/202608273

Hy het daarop gewys dat, hoewel die aansoek om uitstel vermeld het dat die geouditeerde finansiële state teen 7 Augustus gefinaliseer sou wees, dit nog nie gebeur het nie. Hy beweer dat die maatskappy “made a material misrepresentation to the Tribunal” en dat hulle:
* die saak met Nova opneem deur middel van: “…request formal feedback from both the Directors of the Nova Group and the external auditors regarding the matters raised above * en tree op via “ …the Tribunal should seriously reconsider the factual representations initially placed before it. I am of the opinion that the Directors of the Nova Group deliberately provided an unrealistic completion date in an attempt to create the impression that the audit was nearing completion, despite knowing that the guarantees from the prospective purchaser of the Flora property would likely not be furnishing guarantees before 31 August 2026

Let wel: Ons is bewus daarvan dat die PDF-dokumente op die Carian-webwerf nie op die skerm besigtig kan word nie, maar eers afgelaai en gestoor moet word. Dit is ongerieflik; ons het die saak met Tromp opgeneem en versoek dat toepaslike aanpassings gemaak word om dit makliker te maak om die dokumente oop te maak. Hy het geantwoord dat hierdie saak aandag sal geniet ten einde die probleem en ongerief uit die weg te ruim

In afwagting van sodanige verandering kan die betrokke dokumentasie oor hierdie plasing hier besigtig word:

<www.ndcag.co.za/go/270820261> www.ndcag.co.za/go/270820261

<www.ndcag.co.za/go/202608272> www.ndcag.co.za/go/202608272

<www.ndcag.co.za/go/202608273> www.ndcag.co.za/go/202608273

We have sent an email to Nova today calling them out over statements that CEO Haese has made about Debenture Trustee J-P Tromp’s complaint submission to CIPC Company Tribunal regarding the absence of the covering mortgage bond protection regarding the Flora Centre property as reported by us on 28 July

Haese stated in correspondence relevant to the covering bond that Tromp has no right to act as he has done and that his actions are not in the interests of the Debenture Holders. She also included similar statements in an email sent to an NDCAG registered Debenture Holder in response to an enquiry
We have taken issue with her statements and based on research in the Internet, have pointed out to her and the Board that not only does Tromp have the right, as a registered Chartered Accountant, he has an obligation to report irregularities and irregularities

Because we have highlighted certain pertinent text in our research findings, in the email, the full text of the same – with highlights – can be read via the link below

Ons het vandag ‘n e-pos aan Nova gestuur waarin ons beswaar maak teen uitlatings deur uitvoerende hoof Haese. Hierdie uitlatings het betrekking op die klagte wat J-P Tromp, in sy hoedanigheid as Trustee vir Skuldbriefhouers, by die CIPC-maatskappytribunaal ingedien het oor die aan die lig gekome afwesigheid van dekking deur ‘n verband vir die Flora Centre-eiendom soos ons op 28 Julie gerapporteer het

In korrespondensie oor die betrokke verband het Haese beweer dat Tromp nie die reg het om op te tree soos hy gedoen het nie en dat sy optrede nie in die belang van die obligasiehouers is nie. Sy het ook soortgelyke stellings ingesluit in ‘n e-pos wat in reaksie op ‘n navraag aan ‘n NDCAG-geregistreerde Skukdbriefhouere gestuur is

Ons het beswaar gemaak teen haar uitlatings en – gegrond op navorsing op die internet – vir haar en die direksie daarop gewys dat Tromp, as ‘n geregistreerde geoktrooieerde rekenmeester, nie net die reg het nie, maar ook die verpligting, om onreëlmatig- en onwettighede aan te meld
Aangesien ons sekere relevante gedeeltes in ons navorsingsbevindinge uitgelig het, kan die volledige teks van die e-pos – insluitend die gemerkte gedeeltes – hier gelees word:

Link/Skakel:
<www.ndcag.co.za/go/20220825> www.ndcag.co.za/go/20220825
(Only available in Englsh)

In our previous post on 13 August we informed that CIPC had granted Nova an extension to 27 September by which date the AGM for 2025 must be held

We anticipate that the 2025 Annual Financial Statements (AFS) for 2025 will be provided to Shareholders in the same email and that possibly, they will not be published in the Nova web site

We ask any shareholder who receives such mail and perhaps also the AFS, to please forward the mail, agenda and the AFS to us – at [email protected] <mailto:[email protected]> – so that we will be aware of the agenda and also have the AFS content for perusal (we at NDCAG are not shareholders and therefore will not receive the AGM mail or the AFS)

We thank registered shareholders in advance for their assistance

In ons vorige plasing op 13 Augustus het ons bekendgemaak dat die CIPC aan Nova uitstel tot 27 September verleen het – die datum teen wanneer die Algemene Jaarvergadering vir 2025 gehou moet word

Ons verwag dat die finansiële jaarstate (AFS) vir 2025 in dieselfde e-pos aan aandeelhouers verskaf sal word en dat dit moontlik nie op Nova se webwerf gepubliseer sal word nie

Ons versoek enige aandeelhouer wat sodanige korrespondensie – en moontlik ook die finansiële state – ontvang, om asseblief die e-pos, die agenda en die AFS aan ons te stuur (by [email protected]. Sodoende sal ons van die agenda bewus wees en ook oor die inhoud van die finansiële state beskik om dit te bestudeer (aangesien ons by NDCAG nie aandeelhouers is nie, ontvang ons nie die korrespondensie oor die algemene jaarvergadering of die finansiële state nie)

Ons bedank geregistreerde aandeelhouers by voorbaat vir hul hulp