DOCSLIB.ORG

Pre-Listing Statement Sagarmatha Technologies Limited – Pre-Listing Statement

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pre-Listing Statement Sagarmatha Technologies Limited – Pre-Listing Statement Sagarmatha Technologies Limited (formerly African Technology and Media Holdings Proprietary Limited) (Incorporated in South Africa) (Registration number 2013/181904/06) JSE share code: SGT ISIN: ZAE000252334 (“Sagarmatha Technologies” or “the Company”) PRE-LISTING STATEMENT SAGARMATHA TECHNOLOGIES LIMITED – PRE-LISTING STATEMENT SAGARMATHA The definitions and interpretations commencing on page 10 of this Pre-listing Statement apply to this entire document, including this cover page, unless otherwise stated or the context clearly indicates otherwise. This Pre-listing Statement relates to a private placement by way of an offer for subscription by Sagarmatha Technologies, subject to certain conditions, to (i) selected persons in South Africa who fall within one of the specified categories listed in section 96(1)(a) of the Companies Act, 71 of 2008, as amended and (ii) selected persons in South Africa, acting as principal, acquiring Shares for a total acquisition cost of R1 000 000 or more, as contemplated in section 96(1)(b) of the Companies Act, to whom the Private Placement will specifically be addressed, and only by whom the Private Placement will be capable of acceptance, of up to 189 298 334 Shares, at a Placement Price of R39,62 per Share equating to a maximum capital raise of R7.5 billion and comprising an aggregate of up to 15.6 per cent of the total issued Shares at Listing net of 40 000 000 treasury shares. The Private Placement and the relevant information that pertains to such Private Placement in respect of each class of Invited Investor is combined in this Pre-listing Statement for the sake of convenience only. There shall neither be an over-allotment of Shares in terms of the Private Placement, nor will there be any stabilisation activity. This Pre-listing Statement is not and shall not constitute an offer or an invitation or solicitation to the public to acquire Private Placement Shares in any jurisdiction. It is issued in compliance with the Listings Requirements for the purpose of providing information regarding Sagarmatha Technologies to selected persons in South Africa only, and the listing of up to 1 214 718 441 Shares in the “Media” sector (sub-sector: Broadcasting and Entertainment) on the Main Board of the JSE, as further detailed in this Pre-listing Statement. Immediately prior to the Private Placement and Listing, and assuming that the Acquisitions are implemented: • the authorised shares of Sagarmatha Technologies will comprise 10 000 000 000 Shares; and • the issued shares of Sagarmatha Technologies will comprise 1 025 420 107 Shares, inclusive of 40 000 000 treasury shares. After Listing and assuming that the Acquisitions are implemented and the Private Placement is fully subscribed: • the authorised shares of Sagarmatha Technologies will comprise 10 000 000 000 Shares; and • the issued shares of Sagarmatha Technologies will comprise 1 214 718 441 Shares, inclusive of 40 000 000 treasury shares. On Listing and thereafter, all Shares will rank pari passu in respect of all rights. Shares will be issued in dematerialised form only. No certificated Shares will be placed or issued on Listing. There will be no fractions of Shares offered in terms of the Private Placement. The Private Placement will not be underwritten. The anticipated market capitalisation of the Company will be approximately R49.7 billion, based on 1 253 433 280 Shares in issue (net of 40 000 000 treasury shares) at a Placement Price of R39.62 per Private Placement Share. The JSE has granted Sagarmatha Technologies approval for a listing of up to 1 214 718 441 Shares in the “Media” sector (sub-sector: Broadcasting and Entertainment) on the Main Board of the JSE, with effect from the commencement of trade on Friday, 6 April 2018, under the abbreviated name: “Sagarmath”, JSE share code: “SGT” and ISIN: ZAE000252334, subject to the fulfilment of the conditions referred to in paragraph 16.2 and 18 of this Pre-listing Statement, namely the Company having satisfied the Listings Requirements regarding the spread of public shareholders, being a minimum of 20% of the issued Shares of the Company being held by public shareholders, the Company achieving a minimum subscription on Listing of R3 billion and to the publication of the reviewed provisional financial statements of Sagarmatha Technologies for the year ended 31 December 2017 on SENS prior to the Listing Date. If the Conditions Precedent fail, the Private Placement and any acceptance thereof shall not be of any force or effect and no person shall have any claim whatsoever against the Company, the Sponsor, Legal advisor, Reporting accountants, Independent Expert or any other third party, their respective affiliates or any other person as a result of the failure of any condition. The Directors, whose names are set out on page 34 of this Pre-listing Statement, collectively and individually, accept full responsibility for the accuracy of the information given herein and certify that, to the best of their knowledge and belief, no facts have been omitted which would make any statement false or misleading, and that they have made all reasonable enquiries to ascertain such facts and that this Pre-listing Statement contains all information required by the JSE Listings Requirements. The facts and views contained in the Pre-listing Statement have not been verified by the Reporting accountants, Sponsor, Legal advisor, Independent Expert or any other third party. In addition, please refer to Annexure 21 which annexure details the risk factors with regard to the Private Placement. Each of the Sponsor, Reporting accountants and auditors, Legal advisor, Independent Expert, company secretary, transfer secretaries and bankers whose names are included in this Pre-listing Statement have consented in writing to the inclusion of their names in the capacity stated and, where applicable, to their reports being included in this Pre-listing Statement, and have not withdrawn such consent prior to publication of this Pre-listing Statement. An abridged version of this Pre-listing Statement will be published on SENS on Wednesday, 28 March 2018 and in the press on Thursday, 29 March 2018. Sponsor and Transaction Advisor Reporting accountant Legal advisor Independent Expert 00D ATTORNEYS VALUATION PARTNERS Date of issue of the Pre-listing Statement: Wednesday, 28 March 2018 This Pre-listing Statement is available in English only. Copies of this Pre-listing Statement are available on the Company’s website at www.sagarmathatech.com and may also be obtained from the Company and the Sponsor at the addresses set out in the Corporate Information section of this Pre-listing Statement during normal office hours from Wednesday, 28 March 2018 to Friday, 6 April 2018. CORPORATE INFORMATION Registered office and postal address of the Company Legal Advisor Sagarmatha Technologies Limited TGR Attorneys (Registration number 2013/181904/06) 6th Floor, Vdara 10th Floor, Convention Tower 41 Rivonia Road Heerengracht Sandhurst Foreshore, 8001 Sandton, 2196 (PO Box 56, Cape Town, 8000) (PO Box 782352, Sandton, 2146) Capital raiser Sponsor and Transaction Advisor 3 Laws Capital South Africa Proprietary Limited Vunani Capital Proprietary Limited (Registration number 2008/005223/07) 3rd Floor Wesbank Centre 4th Floor, Claremont Central 9 Long Street 8 Vineyard Road, Claremont, 7700 Cape Town, 8000 (PO Box 2679, Clareinch, 7740) (PO Box 2883 Cape Town 8000) Independent reporting accountants and auditors Transfer Secretaries BDO Cape Inc Link Market Services South African Proprietary Limited (Registration number 2010/016246/07) 19 Ameshoff Road 6th Floor, 123 Hertzog Boulevard Johannesburg, 2001 Cape Town, 8001 (PO Box 4844, Johannesburg, 2000) (PO Box 2275, Cape Town, 8000) Bankers Independent Expert Standard Bank of South Africa Limited Redwood Valuation Partners LLC Heerengracht 771 Lakeview Way Foreshore, 8001 Emerald Hills Cape Town California 94062 United States of America Company Secretary Fredelaine Elna Cindy Brand 10th Floor, Convention Tower Heerengracht Foreshore, 8001 (PO Box 56, Cape Town, 8000) Date and place of incorporation of the Company: Wednesday, 2 October 2013, South Africa 1 NOTICES LAST PRACTICABLE DATE Unless the context clearly indicates otherwise, all information provided in this Pre-listing Statement is provided as at the Last Practicable Date. SPECIAL NOTE WITH REGARD TO THE PRIVATE PLACEMENT The distribution of this Pre-listing Statement and the making of offers for subscription may be restricted by law. It is the responsibility of any person into whose possession this Pre-listing Statement comes to inform themselves about and observe any such restrictions. Any failure to comply with any of those restrictions may constitute a violation of the applicable laws or regulations of certain jurisdictions. This Pre-listing Statement does not constitute an offer of, or an invitation to acquire or subscribe for, any of the Private Placement Shares in any jurisdiction in which such offer, subscription or purchase would be unlawful or require further action for such purpose. In making an investment decision, each investor must rely on its own examination, analysis and enquiry of Sagarmatha Technologies, the Private Placement Shares and the terms and conditions of the Private Placement, including the merits and the risks involved. Prospective investors should not treat the contents of this Pre-listing Statement as advice relating to legal, taxation, investment or any other matters and should consult their own professional
Load more

Recommended publications
  • Blurred Lines
    BLURRED LINES: HOW SOUTH AFRICA’S INVESTIGATIVE JOURNALISM HAS CHANGED WITH A NEW DEMOCRACY AND EVOLVING COMMUNICATION TOOLS Zoe Schaver The University of North Carolina at Chapel Hill School of Media and Journalism Advised by: __________________________ Chris Roush __________________________ Paul O’Connor __________________________ Jock Lauterer BLURRED LINES 1 ABSTRACT South Africa’s developing democracy, along with globalization and advances in technology, have created a confusing and chaotic environment for the country’s journalists. This research paper provides an overview of the history of the South African press, particularly the “alternative” press, since the early 1900s until 1994, when democracy came to South Africa. Through an in-depth analysis of the African National Congress’s relationship with the press, the commercialization of the press and new developments in technology and news accessibility over the past two decades, the paper goes on to argue that while journalists have been distracted by heated debates within the media and the government about press freedom, and while South African media companies have aggressively cut costs and focused on urban areas, the South African press has lost touch with ordinary South Africans — especially historically disadvantaged South Africans, who are still struggling and who most need representation in news coverage. BLURRED LINES 2 TABLE OF CONTENTS Chapter I: Introduction A. Background and Purpose B. Research Questions and Methodology C. Definitions Chapter II: Review of Literature A. History of the Alternative Press in South Africa B. Censorship of the Alternative Press under Apartheid Chapter III: Media-State Relations Post-1994 Chapter IV: Profits, the Press, and the Public Chapter V: Discussion and Conclusion BLURRED LINES 3 CHAPTER I: Introduction A.
    [Show full text]
  • World Economic Forum on Africa
    World Economic Forum on Africa List of Participants As of 7 April 2014 Cape Town, South Africa, 8-10 May 2013 Jon Aarons Senior Managing Director FTI Consulting United Kingdom Muhammad Programme Manager Center for Democracy and Egypt Abdelrehem Social Peace Studies Khalid Abdulla Chief Executive Officer Sekunjalo Investments Ltd South Africa Asanga Executive Director Lakshman Kadirgamar Sri Lanka Abeyagoonasekera Institute for International Relations and Strategic Studies Mahmoud Aboud Capacity Development Coordinator, Frontline Maternal and Child Health Empowerment Project, Japan International Cooperation Agency (JICA), Sudan Fatima Haram Acyl Commissioner for Trade and Industry, African Union, Addis Ababa Jean-Paul Adam Minister of Foreign Affairs of the Seychelles Tawia Esi Director, Ghana Legal Affairs Newmont Ghana Gold Ltd Ghana Addo-Ashong Adekeye Adebajo Executive Director The Centre for Conflict South Africa Resolution Akinwumi Ayodeji Minister of Agriculture and Rural Adesina Development of Nigeria Tosin Adewuyi Managing Director and Senior Country JPMorgan Nigeria Officer, Nigeria Olufemi Adeyemo Group Chief Financial Officer Oando Plc Nigeria Olusegun Aganga Minister of Industry, Trade and Investment of Nigeria Vikram Agarwal Vice-President, Procurement Unilever Singapore Anant Agarwal President edX USA Pascal K. Agboyibor Managing Partner Orrick Herrington & Sutcliffe France Aigboje Managing Director Access Bank Plc Nigeria Aig-Imoukhuede Wadia Ait Hamza Manager, Public Affairs Rabat School of Governance Morocco & Economics
    [Show full text]
  • Parliament Rsa Joint Committee on Ethics And
    PARLIAMENT RSA JOINT COMMITTEE ON ETHICS AND MEMBERS' INTERESTS REGISTER OF MEMBERS' INTERESTS 2013 Abrahams, Beverley Lynnette ((DA-NCOP)) 1. SHARES AND OTHER FINANCIAL INTERESTS No Nature Nominal Value Name of Company 100 R1 000 Telkom 100 R2 000 Vodacom 2. REMUNERATED EMPLOYMENT OUTSIDE PARLIAMENT Nothing to disclose. 3. DIRECTORSHIP AND PARTNERSHIPS Directorship/Partnership Type of Business Klip Eldo's Arts Arts 4. CONSULTANCIES OR RETAINERSHIPS Nothing to disclose. 5. SPONSORSHIPS Nothing to disclose. 6. GIFTS AND HOSPITALITY Nothing to disclose. 7. BENEFITS Nothing to disclose. 8. TRAVEL Nothing to disclose. 9. LAND AND PROPERTY Description Location Extent House Eldorado Park Normal House Eldorado Park Normal 10. PENSIONS Nothing to disclose. Abram, Salamuddi (ANC) 1. SHARES AND OTHER FINANCIAL INTERESTS No Nature Nominal Value Name of Company 2 008 Ordinary Sanlam 1 300 " Old Mutual 20 PLC Investec Unit Trusts R47 255.08 Stanlib Unit Trusts R37 133.56 Nedbank Member Interest R36 898 Vrystaat Ko -operasie Shares R40 000 MTN Zakhele 11 Ordinary Investec 2. REMUNERATED EMPLOYMENT OUTSIDE PARLIAMENT Nothing to disclose. 3. DIRECTORSHIP AND PARTNERSHIPS Nothing to disclose. 4. CONSULTANCIES OR RETAINERSHIPS Nothing to disclose. 5. SPONSORSHIPS Nothing to disclose. 6. GIFTS AND HOSPITALITY Nothing to disclose. 7. BENEFITS Nothing to disclose. 8. TRAVEL Nothing to disclose. 9. LAND AND PROPERTY Description Location Extent Erf 7295 Benoni +-941sq.m . Ptn 4, East Anglia Frankfurt 192,7224ha Unit 5 Village View Magaliessig 179sq.m. Holding 121 RAH 50% Int. in CC Benoni +-1,6ha Stand 20/25 Sandton 542sq.m. Unit 21 Benoni 55sq.m. Erf 2409 Benoni 1 190sq.m.
    [Show full text]
  • Read the Mid-Year 2015 Report Here
    South African Report 04 Monitor MID-YEAR 2015 Assessing and Promoting Civil and Minority Rights in South Africa ZUMA’S HYBRID REGIME AND THE RISE OF A NEW POLITICAL ORDER: The implications for business and NGOs Report researched and compiled by Dr H. Matthee Commissioned by South African Monitor North West Free State KwaZulu-Natal Northern Cape Eastern Cape Western Cape South African Monitor aims to assess and promote civil rights in general and minority rights in particular in South Africa. It provides reliable information on relevant events, analyses significant developments and signals new emerging trends. Focus areas include: Biannual reports, of which this is the fourth edition, portray the current state of civil and minority rights in South Africa. All reports can be downloaded free of » Key dynamics of the executive; charge from the website, www.sa-monitor.com. » Democracy and the legislature; » Order, the judiciary and the rule of law; The website also provides you with an opportunity » Group relations and group rights; to subscribe to future updates, as well as download auxiliary documents and articles relevant to the above- » Freedom of expression, privacy and the media; mentioned focus areas. » Socio-economic rights and obligations; » The political risks to business. South African Monitor www.sa-monitor.com [email protected] +27-72-7284541 +31-61-7848032 SAMonitor Table of contents Table of Contents Page List of abbreviations 5 Executive summary 7 A new and symbolic political order 7 Hybrid regime 8 Part I: “Time to ditch
    [Show full text]
  • “We Should Be a Lot Angrier” a Case Study of the Marikana Shootings
    Bachelor thesis, 15 ECTS credits Media and Communication “We should be a lot angrier” A case study of the Marikana shootings Author: Caroline Åstrand Author: Linda Birgersson Supervisor: Renaud de la Brosse Examiner: Kristoffer Holt Date: October 2014 Subject: Media and Communication Level: Bachelor of Science ABSTRACT Author: Caroline Åstrand and Linda Birgersson Title: “We should be a lot angrier” - A case study of the Marikana shootings. Location: Linnaeus University Language: English Number of pages: 44 Our aim with this study was to examine how the Marikana massacre, the killings of 34 mineworkers in August 2012, was portrayed in the news media in South Africa. We based our study on a discourse analysis of a selection of articles written at the time of the massacre. We have also used interviews with two journalists who covered the Marikana massacre, to gain further insight in journalistic decisions regarding the coverage. Through theories and earlier research we have analysed the content, among others we have used Burton’s theory of self-regulation and Gramsci’s theory of media hegemony. The findings of the discourse analysis show that newspapers have covered the incident from different angles, in accordance with the different conflicts that the massacre contains. We found a conflict between the police and miners as they are both portrayed as victims and the criminals in the articles. The second conflict between the largest unions and the third among the politicians Jacob Zuma and Julius Malema. We have concluded that there is a political discourse and the political key players have used the massacre as means to gain political support.
    [Show full text]
  • Pre-Listing Statement
    PREMIER FOOD AND FISHING LIMITED (previously Sekunjalo Industrial Holdings Proprietary Limited) (Incorporated in the Republic of South Africa) (Registration number 1998/018598/06) Share code: PFF, ISIN: ZAE000238309 (“PFF” or “the Company”) PRE-LISTING STATEMENT The definitions and interpretations commencing on page 6 of this Pre-listing Statement apply to this cover page. This Pre-listing Statement is not an invitation to the public to subscribe for securities, but is issued in compliance with the JSE Listings Requirements, for the purpose of providing information to the public with regard to the Company. This Pre-listing Statement does not constitute, envisage or represent an offer to the public, as envisaged in the Companies Act, nor does it constitute a prospectus registered in terms of the Companies Act. This Pre-listing Statement is issued in respect of: • the Private Placement, to be undertaken by the Company in conjunction with the Listing, involving an offer to Invited Investors to subscribe for Private Placement Shares in the Company at the Placement Price such placement to be implemented by: – the Company issuing up to approximately 117 000 000 new Shares to Invited Investors, thereby raising approximately R526.5 million for the Company; and – the subsequent Listing of all the Shares of the Company in the Farming, Fishing & Plantations sector on the main board of the JSE. • The proceeds of the Private Placement will be employed, inter alia, to provide PFF with additional capital to fund its further expansion. 2017 Opening date of Private Placement (09:00) Monday, 20 February Closing date of Private Placement (17:00) Tuesday, 21 February Results of Private Placement released on SENS on Friday, 24 February Results of Private Placement published in the press on Monday, 27 February Listing of Shares on the JSE expected at commencement of trade on (9:00) Thursday, 2 March Notes: • Please refer to the “Salient Dates and Times” section on page 5 of the Pre-listing Statement for a detailed timetable of the Private Placement and the Listing.
    [Show full text]
  • Table of Contents
    TABLE OF CONTENTS Political and economic context in the Republic of South Africa page 2 Energy requirements in South Africa page 6 Revival of the South African nuclear program page 9 AREVA's unique integrated offer page 11 Localizing nuclear activities page 12 EPR by AREVA page 14 AREVA submits an ambitious global offer in South Africa page 19 AREVA leader on the South African nuclear products and services market page 19 AREVA's T&D Division: leader on South African T&D market page 22 Main Acronyms, Appendix page 24 1 POLITICAL AND ECONOMIC CONTEXT IN THE REPUBLIC OF SOUTH AFRICA A stable and calm political context South Africa had a population of 47.9 million spread across a surface area of 1.2 million km2 (the equivalent of France, Germany and Italy put together). The country won its independence from the UK in 1910. It has three capital cities: Pretoria is the administrative capital, Cape Town the legislative capital and Bloemfontein the judicial capital. South Africa accounts 4% of Africa’s surface area, 5.5% of its population and 25% of its GDP. Since its first free and multi-racial elections in 1994 South Africa has been a parliamentary democracy and the stability of its democratic bodies – as witnessed at each election - is solid proof of the peaceful political and social climate. Nelson Mandela saw through the transition from the apartheid regime. His successor, Thabo Mbeki, promised to continue in the same vein for political and economic affairs, while accelerating social reforms. The African National Congress (ANC) widely dominates the political scene.
    [Show full text]
  • PIONEER COVER NH.Indd
    THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. The definitions and interpretation commencing on page 10 of this circular apply mutatis mutandis to this cover. ACTION REQUIRED BY PIONEER FOODS SHAREHOLDERS • If you are in any doubt as to what action you should take, you should consult your CSDP, broker, banker, legal adviser, accountant or other professional adviser immediately. • If you have disposed of all of your Pioneer Foods ordinary shares, please forward this circular together with the attached form of proxy (blue), to the purchaser to whom, or the CSDP or Broker or Agent through whom the disposal was effected. • Shareholders of the Company are referred to page 3 of this circular, which sets out the action required by them in respect of this circular. Pioneer Food Group Limited (Incorporated in the Republic of South Africa) (Registration number 1996/017676/06) JSE share code: PFG ISIN: ZAE000118279 (“Pioneer Foods” or “the Company”) CIRCULAR TO SHAREHOLDERS relating to: the issuing of Pioneer Foods Shares to the BEE Parties, being the BEE Partners, Specified BEE Directors and the Pioneer Foods BEE Trust (the latter having as its sole beneficiary, the Pioneer Foods Education and Community Trust), pursuant to the Proposed Specific Issue, on the basis set out in this circular , including the provision of Proposed Financial Assistance by the Company and its wholly-owned subsidiary, Pioneer Foods (Pty) Ltd, to the BEE Parties, and providing for a Potential Specific Repurchase of Pioneer Foods Shares from the BEE Partners and Specified BEE Directors in future; and incorporating: – a notice of a general meeting of Pioneer Foods Shareholders; and – a form of proxy (blue) for use by certificated and “own name” dematerialised Shareholders only.
    [Show full text]
  • South Africa | Freedom House Page 1 of 5
    South Africa | Freedom House Page 1 of 5 South Africa freedomhouse.org South Africa is home to a vibrant media environment, and press freedom advocacy organizations regularly push back against government encroachments on the rights that journalists enjoy. However, such encroachments became more frequent in 2014, as President Jacob Zuma and the governing African National Congress (ANC) party stepped up the use of laws such as the apartheid-era National Key Points Act. The year also featured an increase in political and economic pressure by the ANC on both private outlets and the public broadcaster—the South African Broadcasting Corporation (SABC)—as well as an uptick in violence, including the first work-related killing of a journalist in two decades. Legal Environment Freedoms of expression and of the press are protected in the constitution and generally respected in practice. However, several apartheid-era laws and a 2004 Law on Antiterrorism permit authorities to restrict reporting on the security forces, prisons, and any sites or institutions deemed important to the “national interest” by authorities. Journalists and media outlets at times face the threat of legal action as a result of their work, particularly when reporting on prominent political or business figures. Civil defamation cases, sometimes involving large fines, are occasionally brought against members of the press. Prosecutions for criminal defamation are rare. In a prominent recent case, the Pretoria High Court in December 2014 overturned the June 2013 conviction of journalist Cecil Motsepe on criminal defamation charges, for which he had been sentenced to a fine of R10,000 ($950) or 10 months in prison, suspended for four years.
    [Show full text]
  • PIC Transcript, Day 24
    COMMISSION OF INQUIRY OF THE PUBLIC INVESTMENT CORPORATION HELD AT TSHWANE, PRETORIA 10 3 APRIL 2019 DAY 24 20 3 APRIL 2019 – DAY 24 PROCEEDINGS HELD ON 3 APRIL 2019 CHAIRPERSON: Good morning. ADV JANNIE LUBBE SC: Good morning Mr Commissioner, members. CHAIRPERSON: Yes? ADV JANNIE LUBBE SC: Mr Commissioner we’re ready, Dr Survé is ready to proceed with his evidence, he can just perhaps be reminded that he’s still under oath and he requested me that he wants to make a correction to his statement before we start with the proceedings and the questioning. CHAIRPERSON: Good morning Dr Iqbal. 10 DR IQBAL SURVÉ: Good morning Mr Commissioner and … (intervention) CHAIRPERSON: Just remind you that you are still under oath. DR IQBAL SURVÉ: Yes thank you I am, thank you. CHAIRPERSON: Thank you. DR IQBAL SURVÉ: Mr Commissioner there was just one point in our statement, point number 96 which is that we had mentioned the transaction fees were paid by Independent Media to Webber Wentzel Attorneys that is in fact a correction; it was to ENS at the time. I think it was mentioned twice in the statement. CHAIRPERSON: Yes, we’ve taken note of that. ADV JANNIE LUBBE SC: Thank you. Mr Commissioner I will then continue with my 20 questioning, I will try to wrap up what I have to ask by 10 o’clock to have enough time left for the Commission to ask any questions to Dr Survé. Dr Survé before we start, can I make a deal with you that you will just answer the question I’m asking of you? DR IQBAL SURVÉ: That is a good idea Adv Lubbe.
    [Show full text]
  • INTEGRATED REPORT 2011 About This Report
    SEKUNJALO INVESTMENTS LIMITED INTEGRATED REPORT 2011 SEKUNJALO INVESTMENTS LIMITED INTEGRATED integrated report 2011 WWW.SEKUNJALO.COM about this report This is Sekunjalo Investments Limited’s We are also working towards reporting first attempt at integrated reporting, on creating shared value in terms of as we are committed to complying economic and societal benefits relative with the principles of King III. We also to cost, joint company and community acknowledge that an exclusive financial value creation. focus in our reporting is no longer appropriate given the broad spectrum Internally, we are investing in putting of environmental, socio-economic and together an integrated management governance factors that play an integral system for our diverse group of part in ensuring the long-term viability companies. We are cognisant of the fact of our business. that we have to report on our ability to operate effectively in a time of systemic This integrated report encompasses the change by reviewing our organisational Group’s sustainable related activities for competencies required to achieve our the period under review. It covers the strategic objectives. We are also in the scope of operations of our direct business process of monitoring and reporting on units regarding material issues. material impacts, risks and opportunities associated with the changing business The journey on which we are embarking environment and the implications these – from compliance-based sustainability have on our strategic objectives. to integrated sustainability – will take a few years to fully achieve. The Group is fully committed to and conscious of the necessity for environmentally sound practices and has started the process.
    [Show full text]
  • Sekanjalo Memo Dec 2013
    17 December 2013 Dr Iqbal Survè Sekunjalo Memoraduim regarding media freedom and your removal of the Cape Times Editor The Right2Know campaign expresses great Disquiet at an unpreceDenteD threat to inDepenDent journalism in South Africa. By relieving Cape Times eDitor, AliDe Dasnois, oF her post as eDitor and threatening to sue her and a reporter, Melanie Gosling, you have threatened the editorial independence of the Cape Times. You summarily removeD the editor without any notice or due process after she published a news article covering the Public Protector’s report into the irregular issuing of a tender to another oF your companies, Sekunjalo Marine Services Consortium, by the Fisheries Department. The reasons you gave For Dasnois being summarily removeD From her editorship was the declining circulation figures and not putting the death of Nelson Mandela on the front page - an action you describeD as disrespectful. We note with Dismay that you have changeD your reasons as the controversy has deepened. We put it to you that the circulation figures oF other newspapers in the group are declining, with the Cape Times Declining the least. None of the other editors was removeD. Further, the Cape Times broke the story oF ManDela’s Death on FriDay, December 6. This was Done in a wrap-around – which covereD the front page oF the newspaper – which Time magazine selected in its top 14 in the world (and the only one From Africa). The reasons you have provided for your actions appear baseless. Even if your reasons had merit, the speed with which you implementeD your Decisions FlouteD all Due process anD labour law.
    [Show full text]