Tongaat Hulett wants to claw back R450m from former directors
JSE-listed sugar producer Tongaat Hulett is claiming R450m against former directors and executives implicated in the group’s accounting scandal.
Source: timeslive.co.za
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No sugar-coating this: Tongaat Hulett institutes R450m...
Tongaat Hulett is seeking a thumping R450-million in civil claims against former executives after the accounting fraud revealed by the company in 2019, the company announced on Tuesday. This signals a growing claw-back trend against errant directors. Tongaat Hulett is seeking a thumping R450-mi...
Source: dailymaverick.co.za
Tongaat Hulett's R450m civil action against former executives
‘Shareholders are now faced with a highly dilutory rights issue which is actually going to facilitate a change of control’: Opportune Investments founder Chris Logan.
Source: moneyweb.co.za
Stuart Lowman's Inbox: "White collar crime also pays"
In response to David Lipschitz’s view on corruption in SOEs, community member Nick Najbicz concludes “white collar crime also pays”.
Source: biznews.com
Tongaat delays results release after missing debt reduction target
Tongaat has delayed the release of its annual results after missing its R8.1 billion debt reduction target.
Source: news24.com