Tongaat Hulett: Decision on mandatory offer to shareholders expected next week
Review hearing of Takeover Regulation Panel exemption granted to the company took place last week.
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Review hearing of Takeover Regulation Panel exemption granted to the company took place last week.
With criminal prosecution of white collar corporate crime rare in SA, analysts took heart this week when six former executives of JSE-listed Tongaat Hulett and an external auditor appeared in court on charges of fraud totalling about R3.5bn.Those in court included former Tongaat CEO Peter Staude and former CFO Murray Munro who both face 24 charges that included fraud and racketeering, for allegedly manipulating the company's accounts over several years.
It’s not every day that a company welcomes criminal charges being brought against its former executives, but nothing about sugar producer Tongaat Hulett seems ordinary these days. It’s not every day that a company welcomes criminal charges being brought against its former executives, but no...
Former CEO Peter Staude is among seven accused who appeared in court on fraud charges.
Six Tongaat Hulett executives and a former audit partner at Deloitte were granted R30,000 bail after appearing in court.