Earlier this week, the FF Plus took a firm stand against the planned JSE listing of Iqbal Survé’s company Sagaramatha Technologies and so the news that the JSE decided not to proceed with the listing is welcomed.
"It is clear that the JSE shares in the FF Plus’s suspicion regarding Survé’s company seeing as the reason that the JSE provided for not listing the company is to “protect shareholders”. According to the JSE, Sagaramatha did not meet some of the listing requirements," says Adv Anton Alberts, FF Plus Chairman.
"This, however, does not mean that the company cannot be listed at a later stage and the FF Plus is still concerned about the possibility that the Public Investment Corporation (PIC) may invest money from the Government Employee Pension Fund (GEPF) in the company to make the listing possible.
"The questions that the FF Plus posed to the PIC on Tuesday this week have still not been answered and today the party again requested the PIC to provide clarity on the matter.
"Given the questionable nature of some of the PIC’s previous investments at great risk to the GEPF, the FF Plus is justifiably worried about the possibility that the PIC might invest in a company that raises many questions and that does not inspire confidence.
"The FF Plus will continue to fight for the rights of public service pensioners and will do everything in its power to expose and prevent such an investment," says Alberts.
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