Page 4 - Peter Staude News Today

They include former chief executive officer Peter Staude and chief financial officer Murray Hector Munro.

One proposal is to ask the nine banks that lent the company some R13bn to ‘take a haircut’.

Investment company controlled by shareholder activists increases its shareholding in Tongaat to over 10%.

Decision welcomed by shareholder activists.

Tongaat’s contentious deal with Mauritius-based Magister Investments is off the table, leaving a R2 billion hole in the group’s recapitalisation plan.

The National Director of Public Prosecutions has not yet made a decision on whether or not to charge former high-profile Tongaat Hulett executives with racketeering.



The Durban Specialised Commercial Crimes Court has heard the R3.5 billion fraud case involving six former Tongaat Hulett executives and an auditor is ready to go to the high court.

The seven individuals accused of fraud of R3.5 billion at Tongaat Hullets will soon be heading to the High Court.

Embattled sugar producer Tongaat Hulett has announced the resignation of its chair Louis von Zeuner.



Former high-profile Tongaat Hulett executives, who have been criminally charged in an alleged R3.5 billion fraud scam relating to sales of land owned by Tongaat Hulett, may also face charges of racketeering.