How is this one - NHA Reacts

Given the current media speculation surrounding Mr Markus Jooste and his recent resignation as the CEO of Steinhoff International Holdings NV, the National Horseracing Authority of Southern Africa (NHA) has reported in a press release published on 11 December 2017 that they have requested clarity and information from Mayfair Speculators, a company dealing with his horseracing interests.

Press realease not on their own website

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So what exactly are they saying? A press release is deemed necessary to highlight that questions are being asked? Will the answers be published or is this just another sweep under the carpet exercise?

Exacty Nothing - This PR company that is running this is brilliant

Where was the press release?

Posted on their website in the last 5 minutes.....

News


11 December 2017

MAYFAIR SPECULATORS

Given the current media speculation surrounding Mr Jooste and his recent resignation as the CEO of Steinhoff International Holdings NV, the National Horseracing Authority of Southern Africa (NHA) has requested clarity and information from Mayfair Speculators, a company dealing with his horseracing interests.

....better late than never....but good luck with them getting through....calls must be being screened.....

If the poster, vis, is correct that since Thursday the banks owned Mayfair Speculators, the NHRA is obliged to withdraw every Mayfair Speculator horse which is entered or carded to run as it would mean that there is a change in ownership which has to be registered by the NHRA.

If the NHRA sits back and does nothing it will be acting in contravention of its rules and Constitution.

I am looking forward to reading whether the NHRA has allowed the Banks to be under the lap owners of the Mayfair Speculators horses and for how long this has happened.

One has for Turffontein,in the Soma stable looks a joint ownership but non of theirs in Ken scratched

....the only way financial institutions can step in..... is if there has been a default on payment of loans..... ....within that entity are also other companies.... one of which is Rare Holdings....does any one know of any others.... :huh:

Jurgs wrote: If the poster, vis, is correct that since Thursday the banks owned Mayfair Speculators, the NHRA is obliged to withdraw every Mayfair Speculator horse which is entered or carded to run as it would mean that there is a change in ownership which has to be registered by the NHRA.

If the NHRA sits back and does nothing it will be acting in contravention of its rules and Constitution.

I am looking forward to reading whether the NHRA has allowed the Banks to be under the lap owners of the Mayfair Speculators horses and for how long this has happened.

Surely this is incorrect? If a company (a legal entity) owns horses then what does it matter what it's overdraft might or might not be. While it isn't insolvent it carries on irrespective of what posters, or press reports or whatever. Even if the principles where charged and in court cases, while they liquid why wouldn't they carry on. Even if they were under management, they could carry on to maximize their assets. The shares in the company might be forfeit and then ownership might change in the shares, it remains a separate entity with a nominee for interface. That isn't "under the lap", which is an archaic term these days anyway, who can remember a case of racing under the lap anymore. And who cares.

Muhtiman wrote: ....the only way financial institutions can step in..... is if there has been a default on payment of loans..... ....within that entity are also other companies.... one of which is Rare Holdings....does any one know of any others.... :huh:

Steinhoff have a meeting on the 19th in London with their world bankers , problem , no financials so how can they attend a meeting with no financials.

On local front , pleanty charges laid agaist MJ totday , Fedusa , PPF , and now SCOPA stepping in and want full enquiry in Parliment in February.