Nova predicts a bright financial future, but a ratio analysis suggests otherwise
Sharemax, Nova Property Group, Connie Myburgh, Dominique Haese
Source: moneyweb.co.za
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Mbombela cuts electricity to Nova centres due to non-payment
Sharemax rescue vehicle seems to be facing significant cash flow challenges.
Source: moneyweb.co.za
Another Nova blow
High court orders the repayment of R31.2m to bridging loan provider; judge rules Connie Myburgh had ulterior motive up his sleeve.
Source: moneyweb.co.za
The Nova bubble bursts
Auditor claims Sharemax rescue vehicles assets are overstated by nearly R1.5bn.
Source: moneyweb.co.za
Nova board may not have 'capacity or intent' to repay former Sharemax investors
Sharemax rescue vehicle has only repaid a meagre 12.12% of the cash it received from its operations and the sale of properties to debenture holders.
Connie Myburgh Dominique Haese Cuma Zwane Nova Property Group Companies Tribunal Nova Debenture Trust
Source: moneyweb.co.za
'We invited whom we could'
Nova chair acknowledges that Nova did not invite all debenture holders to a critical meeting to elect a new trustee.
Source: moneyweb.co.za
Nova debenture holders stand up to the Sharemax rescue vehicle
Group nominates Deon Pienaar to become the new trustee of the Nova debenture trust.
Roger Johnson Derek Cohen Deon Pienaar Herman Lombaard Nova Debenture Nova Debenture Creditors Action Group
Source: moneyweb.co.za
How former Sharemax investors 'saved' Connie Myburgh
Nova tried to mislead investors about related-party transaction.
Source: moneyweb.co.za