What’s going on?

Following the January voting meetings which led to the appointment of Mr JP Tromp as the new Debenture Trust Trustee we entered into discussions with him as well as other entities
We await outcomes of these interactions and will inform members of same via this site and our Facebook page in due course
In the meantime, members might be interested in the background to Ryk van Niekerk’s’ February 9 post in Moneyweb titled “Sharemax Investors screwed twice” (copied in this site as well as our Facebook page: Sharemax Investors/Nova Debenture Creditors)
Why screwed twice? Two November 2016 Moneyweb posts by Ryk (see links below) give the explanation of the first swindle
They detail:
* the corporate capture of Sharemax/Nova
* how the very people who are supposed to ensure that the Sharemax investors (who opted for Nova Debentures instead of shares) are paid out as required per the four (Court sanctioned) Schemes of Arrangement but have not done so (to the extent required)
* how certain “insiders” – to the detriment of the original investors – acquired, through a single line of “small print” in the SoAs, a majority shareholding in the then still to be formed Nova Property Group and thus, effectively, ownership of the Sharemax assets (the properties in which the Sharemax investors were originally shareholders) – tangible assets as opposed to the questionable value of the debentures which replaced the Sharemax shareholdings

Part 1: ‘Corporate capture’ of Sharemax rescue vehicle
<www.moneyweb.co.za/news/companies-and-deals/nova-monkey-business-pa rt-2/> www.moneyweb.co.za/news/companies-and-deals/nova-monkey-business-par t-2/
Part 2: Shareholder structure hides how directors acquired 87.1% of Nova shares
www.moneyweb.co.za/in-depth/investigations/shareholder-structure-hid es-how-directors-acquired-87-1-of-nova-shares/


Disclaimer and entry/usage Terms and Conditions (T&C)

By clicking the “Agree” button below and entering this site, you agree that the material contained herein is for information purposes and is for the personal use of and by bona fide users (being registered Nova Debenture Creditors or their bona fide representatives) only

You also confirm that you are a Debenture Creditor or a bona fide representative of same  

If you are not one of the above you are not entitled to enter this site or to access or use any of the information contained in it and should exit the site immediately

The website will be continuously updated and/or reviewed and its content will be relevant to bona fide NDCAG matters only (but allowing for the posting, sharing and archiving of information relevant to other property syndication issues and action groups) and used only in connection with the NDCAG agenda as may be published and changed from time to time

The content is subject to change without prior notice. The unauthorised use or interception of material, data, information or documents on this website is strictly prohibited and illegal. If this website is not intended for you, you may not copy, distribute or disclose the contents to anyone. The aforesaid is done entirely at your own risk, for which NDCAG and/or any of its agents, nominees or members, shall not be liable.

Any usage that you make of information herein and/or any reliance that you place on same is also strictly at your own risk.

No content in this website implies, states or should be construed as, an undertaking, commitment or guarantee by NDCAG to obtain repayment of amounts invested by anyone, in the former Sharemax property syndication products and which investments are now in the form of Nova Debentures issued in terms of the November, 2011 Schemes of Arrangement