In that site he has informed of his commitment to fulfil the role of Debenture Trustee and work in the interests of the Debenture Holders
Go to the web site and click on the Nova Debenture Trust link/button to read his foundation statement
This channel arises in part from the historical lack of communication out of Nova and where certain (many?) actions of the Chairman and the Executive have rung alarm bells for him and which, he has decided, necessitate public highlighting
Whilst some negativity and suspicion of Tromp has been detected amongst some Debenture Holders and activists in the past we are, in terms of a conscious decision taken some time ago, willing to co-operate with anybody or entity that opposes Nova. This is despite any alleged past activity or actions or suspicions that such persons or entities may have engaged in provided that we are satisfied about the bona fides of their actions taken against Nova and/or in the interests of achieving repayment for the Sharemax investors whether out of Nova operations or from persons or entities that eventually carry the blame and accountability for the alleged illegal and irregular shut-down of the Property Syndication Promotions Companies in 2010
Note also the other links/buttons in the Nova Debenture Trust page under the heading Media Statements. Tromp will be publishing information under these headings in the future
There is already a post present on his response to Novas reaction to his public statements via Moneyweb plus an exposé on the situation regarding Amogela Mall in Welkom (formerly Liberty Mall)
The Amogela post is likely to set the tone for future posts on other of the Nova properties and related matters
The news will not always be good in fact, may never be good
Appreciate that Tromp, whilst in office as the Debenture Trustee, is, first and foremost, a Chartered Accountant and it is quite possible that much of his future posts will be conveyance of the bad news that he has detected in his scrutiny and analysis of Novas Annual Financial Statements
What therefore does this hold for the Debenture Holders and the likelihood of repayment out of Nova?
The answer is very little unless Nova can find a White Knight who will deliver the goods. We suggest: dont hold your breath!
Thus, the answer lies in the outcomes of other actions against Nova
In direct action, the Companies Tribunal on Novas performance and failures, that was initiated by the Companies and Intellectual Property Commission (CIPC)
Indirectly, the impact on Novas future once the CIPC initiated Inter-Regulatory Investigation into the shut down of the Property Syndication companies in 2010, has delivered its Final Report
Whilst both of these are very slow moving they are nonetheless, still on the go and will still deliver, as per direct and indirect feedback received from time to time
What are the possible outcomes for Nova as a result of the revelatory actions by Tromp?
That remains to be seen. Will the CIPC include details of his revelations in the agenda for the Companies Tribunal hearing? Will the frequent assertions that Nova is in fact, insolvent result in the company being placed under administration (with removal of the current Board of Directors)? Will yet another Business Rescue Plan be necessary? What will all of this mean as regards time-frames relevant to any foreseen eventual repayment?
See also:
www.ndcag.co.za/go/202506101 Nova trustee takes on Sharemax rescue vehicle board
and
<www.ndcag.co.za/go/202506102?fbclid=IwZXh0bgNhZW0CMTAAYnJpZBExZ1pMY jJNMDVWUVJ5ZDNBYgEeW2nxjcUOAlVCE0GwhxgbEKktcxrs4F9QNGvfX9Li3HAMFML4B8Y6IO0mj os_aem_gJe1s8vmwEq9DnlL2joBzg> www.ndcag.co.za/go/202506102 Official Response from the Trustee of the Debenture Trust on the Moneyweb article of 19 June 2025 Sharemax Rescue Vehicle on the Brink as Creditors Circle
and
iono.fm/e/1572350: RSG Geldsake podcast (available in Afrikaans only) featuring Tromp on liquidation applications against Nova