Outcome of the Auction

We’ve mailed members with the link to the Moneyweb post on this topic but we’re repeating it here to keep it visible (it seems that Moneyweb articles go into an archive after a while – requires subscription and payment to access there).

As advised in our broadcast mail, we’re working on our assessment of the auction event and will post soonest.

Please go to https://www.moneyweb.co.za/in-depth/investigations/nova-properties-auctioned-off/ for the full text of this media article.

Standard Bank severs links with Nova Property Group

We can only speculate at this time what Standard Bank’s reasons are (think Guptas and Oakbay?) and what it will lead to. Meantime, at the time of writing, the planned.

The auction is still scheduled to go ahead tomorrow, 30 May 2019.

Will this latest development lead to a business rescue? Forensic Auditor André Prakke is not the only commentator who holds this view with its important factor that it will.

Remove the powers of the board to continue to sell off the assets.

Please go to:  https://www.moneyweb.co.za/in-depth/investigations/standard-bank-has-closed-novas-bank-accounts/ for the full text of this media article.