Legal Articles and Guides
Gloves off over Di Data’s salary scrap
The unprecedented R490m lawsuit by top businessman Dr Andile Ngcaba against information technology services company Dimension Data for paying its white executives significantly more than him looks set to finally go ahead this year.
Telkom ends acquisition talks with Rain
Telkom has informed shareholders that it has terminated discussions relating to Rain’s proposal about a potential acquisition, reports My Broadband.
Steinhoff addresses ‘volatility’ in IPO market
Holding company Steinhoff has withdrawn its plans to list US-based Mattress Firm, in a move unlikely to surprise investors. A Business Day report says the listing had been planned to raise capital but was delayed in 2022 as global markets slumped in the wake of interest rate hikes.
AYO Technology initiates retrenchment talks
Iqbal Survé-linked AYO Technology yesterday said it had initiated a section 189 process, or retrenchment talks, as it looks to cut costs and meet a strategic goal of becoming an investment holding company.
Survé-linked IT group gets another JSE fine
Iqbal Survé-linked IT group AYO Technology Solutions has been fined R1.5m by the JSE for a series of disclosure failures related to how it engaged with shareholders over related-party transactions, says a Fin24 report.
Daybreak Farms CEO supended
Daybreak Farms, which is wholly owned by government workers through the Public Investment Corporation (PIC), has suspended its CEO, Matshela Seshibe, over procurement-related issues, reports the Sunday Times.
Spar’s former CEO steps down amid fraud allegations
Retail group Spar announced on Friday that former CEO Graham O'Conner was stepping down as chairperson so that it can better deal with all claims being made against it, reports Fin24.
Jooste to get his day in court
A German court last night confirmed that the accounting fraud trial of former Markus Jooste will start early next year.
Old Mutual to launch new bank in 2024
Old Mutual has announced it has received approval from the SARB’s Prudential Authority (PA) to apply for a banking licence, with plans to launch its own bank in 2024.
Feud over trust shares splits SCA ruling
The battle involving the family of late fishing tycoon Peter ‘Padda’ Kuttel over the sale of the family trust’s shares to a company controlled indirectly by two of his three feuding sons has ended with the SCA issuing a split judgment on the matter.
'Skinny jeans' scandal directors resign en masse
The company behind the R500 000 Tembisa Hospital skinny jeans scandal has a new owner – a man who is now the controlling hand of 54 entities red-flagged by Babita Deokaran before her assassination.
Bain mulls next move after SA ban
Bain & Company has said it is weighing its options on the government’s decision to ban it from tendering for public sector contracts for the next 10 years.
Ruling on delinquent director welcomed
The Gauteng High Court (Johannesburg) recently declared Farzeen Bhana – a director of non-profit company Breadline Africa – dishonest and therefore delinquent.
Judge orders settlement in 13-year family dispute
Western Cape High Court Judge Mas-Udah Pangarker has ordered a settlement in a 13-year-old dispute between an estranged brother and sister, Deborah Heinrich and Charles de Cerff, over shares in a Cape Town company.
Rupert won’t be ‘blackmailed’ by shareholder
Richemont chairman Johann Rupert won't give in to activist shareholder Bluebell Capital Partners' campaign to overhaul the boardroom structure at the world's second biggest luxury group, reports Fin24.
