SARB- Appointed statutory managers for Sharemax Investments and related companies

The statutory managers appointed by the Registrar of Banks at the South Africa Reserve Bank (SARB), embarked upon active engagement with the management of Sharemax Investments (Pty) Ltd and its related companies in Pretoria this afternoon.

The Registrar of Banks appointed Neels Alant, partner in law firm Hahn & Hahn and Jaco Spies, director of Facct Forensic Consulting, as statutory managers.

Following a meeting with Sharemax directors in Pretoria this afternoon, the statutory managers stated that they will maintain business as usual and seek positive solutions for the investors while evaluating the state of the company and its related syndicated properties.

“Our mandate is essentially orderly management and the protection of the interests of investors. To this end, we are conducting an urgent review of the companies and will inform investors of the next steps as soon as we are in a position to do so.”