Let's play a game of follow the dots

PeeKay wrote: Really an interesting thread to us not in the know

Yes but we must be carefulll we have backup when posting. But this is a spiders web of note . Makes the Arms deal look like a kids story.

"The investment loss recorded was 0.6% of the total GEPF portfolio on December 6, 2017. Despite the fall in Steinhoff shares, the total GEPF equity portfolio had created a value of approximately R140bn over the preceding 12 month period, and had performed better than the equity benchmark," read the joint statement.

“It is important to note that notwithstanding the collapse in the Steinhoff share, the GEPF portfolio remains financially healthy, because of its diversified nature. It is also important to note that GEPF members’ benefits will not be changed by these developments, given that the GEPF is a defined benefit pension fund."

At least it seems these members of the public will not be impacted.

Muhtiman wrote:
.....but was this not ratified by majority RA members in the special restitution you posted....so it was a vote.... :huh:.....Yes Larry was then RA chairman.....the CEO job at RA was later as the RA board position did not come with a lucrative salary.....the new CEO position created at the RA did however come with a substantial salary..... :whistle:

Muhti you need to read things properly and not surmise

The Special resolution that was voted upon did not concern Larry being ratified as CEO of the RA. He had already been appointed and as I have said previously had never been voted into power, he had been co-opted by Jooste and his cronies to ensure that the RA remained under there control.

The Special Resolution is important. There is an interesting history to it and to understand what happened I will need to give a quick history of the formation of Phumelela and the RA. When the Racing Clubs surrended there assets to RaceCo (later to become Phumelela), one of the safeguards against the take over by corporates was the establishment of the Racing Association. The RA was allocated a huge chunk of Phumelela shares to ensure that it had a control over Phum in terms of voting rights. The RA was entitled to appoint TWO directors to the Phum main board but were restricted should they have served on the board of the Racing Trust with the previous 12 months. At the 2005 RA AGM a vote was taken to remove these rules as both JOOSTE and van NIEKERK ( STEINHOFF HINT HINT ) had been on the Racing Trust board and were thus ineligible. The second issue was that ALEC HOGG was on both the RA and Phumelela board and thus was in transgression of the rule. This resolution was summarily passed, but critically, the RA AGM was poorly attended and no quorom was in place. This effectively made the changes illegal. These changes were challenged by the concerned Owners and this led to the re-tabling of the proposals at the 2007 RA AGM where it passed with a huge majority after massive electioneering by the "victors". Here in particular, Grant Knowles was a very active participant, contacting members for support. Grant Knowles - KLAWERVLEI GET IT HINT HINT.

The rules removed were:

15.8.2 no person shall be eligible as a director of the association if that person is or was within a period of twelve months previously a trustee of the Racing Trust

15.8.3 not more than two persons shall be eligible to serve as directors of the association whilst also serving as directors of Phumelela

The removal of these restrictions on Phumelela led to the confirmation of Jooste, van Niekerk and Hogg to the Phum main board - AND EFFECTIVELY STRIPPED THE RA OF ITS POWER TO UTILISE THERE SHARES TO VOTE AGAINST ISSUES THAT ACTED AGAINST THE RIGHTS OF OWNERS. There is no better example of this abuse of power than that of the stakes agreement. This agreement effectively funded the stakes pot according to Phumelela performance and went from a formal, supposedly managable formula to a "verbal agreement". This verbal agreement was never documented and made available to owners and any attempts to get information on how stakes were allocated were met with a "confidentiality agreement" clause signed between Phumelela and the RA. Go figure!

At this stage, I think its important to list the main players amongst the Concerned owners.

LARRY WAINSTEIN
JOE SOMA
ANDY O CONNOR
TREVOR RAATH

WARREN LAIRD
BRETT MASELLE
DEMITRI KYRIACOU
IAN JAYES
ORMOND FERRARIS

I split the group purposely. The "winners" were the group that met up with Jooste at the Gomma Gomma head office without the knowledge and approval of the CO group. Make up your own minds why Larry went from rebel to his coronation of RA head boy in a day, and more revealing why Joe Soma suddenly started receiving Jooste horses. Jooste had at that stage only supported trainers that were in the top 15 positions on the National log. Soma at this stage was not in the top 80.

Follow the dots......

100 % OTA

It was a Tuesday if I remember . I arrivedat the the White House , stopped at security to check in with my best suite . A body guard walked up to me and said sorry you can not come in , I asked why as we weer to be a group , his response was your name is not on the list. It was I know as I had worked with all the mentioned names the night before at Larry's office in Bedfordview the night before.

WARREN LAIRD
BRETT MASELLE
DEMITRI KYRIACOU
IAN JAYES
ORMOND FERRARIS

Were not allowed in.

I am glad that this is coming out as certain members on ABC without mentioning names think it was a joke , This was serious and we were treated like dogs . I think one person in particular should now realize my hate for the people and why.

Thank you for the confirmation Warren.

Some people forget what transpired and it is good to show that this is no fairy tale

Dont forget we had one of if not one of the best Advocates on our side BRETT MASELLE

.....one thing I do not understand......was Grant Knowles an RA member at the time he was running around to get proxies from the RA members to have Advocate Maselle "kicked out" of the RA..... :huh: .....was he not a registered owner in the Cape before the RA opened a chapter there.... :oops:

Didnt Grant Knowles make life miserable for Gareth Pepper

Muhtiman wrote: .....one thing I do not understand......was Grant Knowles an RA member at the time he was running around to get proxies from the RA members to have Advocate Maselle "kicked out" of the RA..... :huh: .....was he not a registered owner in the Cape before the RA opened a chapter there.... :oops:

Muhti a decade has passed so my recollections are not crystal. I am fairly sure that Knowles was involved - if he wasn't then others were in a concerted effort to clear the decks.

Posted 2005-09-07 00:00:00
SHOCK AS KNOWLES LEAVES BLOODSTOCK SA

The recently appointed General Manager of Bloodstock South Africa, Grant Knowles, has left the company for Equimark, a rival sale company based in the Western Cape.

I stick to my story

Over the Air wrote: Posted 2005-09-07 00:00:00
SHOCK AS KNOWLES LEAVES BLOODSTOCK SA

The recently appointed General Manager of Bloodstock South Africa, Grant Knowles, has left the company for Equimark, a rival sale company based in the Western Cape.

I stick to my story

Thats when he started with them

The plot Thickens....