The CIPC’s investigation into Nova and the alleged historical illegalities and irregularities behind the Sharemax shutdown in 2010 has reached a point where a preliminary report has been prepared. This will shortly be distributed to various players (“relevant regulators, law enforcement agencies, affected parties and interested parties [which these latter are defined as being] “confined to regulators and organs of State”) for consideration ahead of a joint review of the findings in the report to pave the way for the compilation of a final report, the contents of which would be the basis for achieving some of the objectives envisaged (See link to CIPC’s covering letter below)

It is expected that there will be a meeting of the addressed players in May and out of which the true story behind the Sharemax shutdown is likely to emerge together with information on possible prosecutions, on remedial actions for the Sharemax investors and on the fate of Nova

Link to the CIPC letter:

<www.ndcag.co.za/go/09042024> www.ndcag.co.za/go/09042024

The interim report will be shared once received

So again, sit tight, be positive and be patient!

At Nova? – who knows. They don’t communicate – unless they want something from the investors

Their next communication – in the absence of any major developments in the interim – will only be in December when they issue their annual ( and not very informative) Communiqué that they publish in the web site along with the Annual Financial Statements

On the CIPC investigation front, the report has still not been released. It’s very frustrating especially as indications are that it’s going to be good news for the investors

But it cannot be rushed. Every aspect must be thoroughly finalized and every participating authority must be in full agreement with it. The last thing that must happen is that a slip up occurs and the door is opened to challenges, litigation and court delays. That would add years to a possible finalisation and could result in a reduced beneficial outcome
So, sit tight, be positive and remain patient

By Nova? – wie weet. Hulle kommunikeer nie – tensy hulle iets van die beleggers wil hê

Hul volgende kommunikasie – in die afwesigheid van enige groot verwikkelinge in die tussentyd – sal eers in Desember wees wanneer hulle hul jaarlikse (en nie baie insiggewende) Communiqué uitreik wat hulle saam met die finansiële jaarstate op die webwerf publiseer

Op die CIPC-ondersoekfront is die verslag steeds nie vrygestel nie. Dit is baie frustrerend, veral aangesien aanduidings is dat dit goeie nuus vir die beleggers sal bring

Maar dit kan nie gehaas word nie. Elke aspek moet deeglik gefinaliseer word en elke deelnemende owerheid moet ten volle daarmee saamstem. Die laaste ding wat moet gebeur, is dat ‘n glips plaasvind wat die deur kan oopmaak vir uitdagings, litigasie en hofvertragings. Dié sal jare by ‘n moontlike finalisering voeg en kan lei tot ‘n verminderde voordelige uitkoms

So, sit styf, bly positief en bly geduldig

Hier is ‘n nuwe artikel vanuit Moneyweb oor Nova se huidige stand van solvensie en kanse op insolvensie

Dit skets ‘n somber prentjie in vergelyking met wat Nova handhaaf (sien hul Desember ’23 Communiqué gepubliseer op hul webwerf by novapropertygroup.co.za/index.php/communiques/ en sigbaar onder Latest News>Communiques). Hoeveel lede en Followers het werklik die “positiewe” stellings wat in hierdie kommuniké gemaak is, geglo?

Alles is egter nie heeltemal ondergang en wanhoop vir ons lede en die Skuldbriefhouers as geheel nie

Die meer as ‘n dekade lange aktivisme oor al die kwessies met die oorspronklike SA Reserwebank-sluiting van die PSPC (Property Syndications Promotion Companies) – wat Sharemax insluit – en ander verwante kwessies beweeg nou regtig vorentoe

Die pogings van die betrokke aktiviste werp vrugte af en ‘n verslag oor die interregulatoriese ondersoek gedryf deur CIPC, kan binnekort verwag word

Lees hier:
www.moneyweb.co.za/in-depth/investigations/nova-predicts-a-bright-fi nancial-future-but-a-ratio-analysis-suggests-otherwise/# <www.moneyweb.co.za/in-depth/investigations/nova-predicts-a-bright-f inancial-future-but-a-ratio-analysis-suggests-otherwise/>

of hier:
<www.ndcag.co.za/go/30012024> www.ndcag.co.za/go/30012024

Slegs in Engels beskikbaar

Here is a new article from Moneyweb on Nova’s current state of solvency and chances of insolvency

It paints a bleak picture compared to what Nova maintain (see their December ’23 Communiqué published in their web site at novapropertygroup.co.za/index.php/communiques/ and visible under Latest News>Communiques). How many members & Followers actually believed the “positive” statements made in this communiqué?

However, all is not totally doom and despair for our members and the Debenture Holders as a whole

The more than a decade long activism over all the issues with the original SA Reserve Bank shut-down of the PSPC (Property Syndications Promotion Companies) – which includes Sharemax – and other related issues is really moving forward now

The efforts of the activists involved are paying off and a report on the inter-regulatory investigation driven by CIPC, can be expected soon

Read here:
www.moneyweb.co.za/in-depth/investigations/nova-predicts-a-bright-fi nancial-future-but-a-ratio-analysis-suggests-otherwise/# <www.moneyweb.co.za/in-depth/investigations/nova-predicts-a-bright-f inancial-future-but-a-ratio-analysis-suggests-otherwise/>

or here:
<www.ndcag.co.za/go/30012024> www.ndcag.co.za/go/30012024

This is Ryk van Niekerk kicking off his valuable and accurate (in our opinion) 2024 reporting by revisiting various aspects from last year

Read the article at:

www.moneyweb.co.za/in-depth/investigations/when-will-former-sharemax -investors-see-their-money/
or
www.ndcag.co.za/go/20240123