or
<www.ndcag.co.za/go/20231204> www.ndcag.co.za/go/20231204
How does one react to the events reported? It’s not a surprise that Moneyweb editor Ryk van Niekerk editor was barred from entry. Nova does not like opposition, especially Chairman Connie Myburgh. In fact, Nova operates in typical authoritarian manner: shut any opposition out – the best form of defence is attack
Of course, Ms Haese’s statements are all just spin in an attempt to deflect criticism. And, moralising (again!) regarding the money that they owe to Beneficio being “the debenture holder’s money”! The debenture holder’s money was the post-2013 property sale proceeds taken into working capital and which has gone down the drain with never a cent used for repayment
Further, it’s our money but we have no say in managing it. That responsibility lies with you and the rest of the Board. You’re hardly making a good job of it, CEO Haese, whatever your protestations and assurances
What did Nova have to borrow thirty two million for anyway? What was so urgent that they were willing to borrow at that exorbitant interest rate? What they now call a usuary rate was not challenged when they contracted for the borrowing, yes? But, now, they cry foul! Hindsight is 20-20 vision as the saying goes . But, in this matter, where was the foresight that should have been exercised? Does this borrowing therefore, not qualify as reckless trading?
Nova last repaid debentures in 2013. There has been no good news at all in the ensuing ten years and they expect the former Sharemax investors (whether Nova shareholders or Debenture Holders now) and the world at large to swallow their assurances without question?