Public Protector Launches Public Hearings

Forgive my ignorance, but what is the ultimate goal of the public hearings? Is it to pinpoint someone who has acted illegally or criminally? Is it to establish some breach of administrative law? I just can't seem to figure this one out

This would be decent news if it was in actual fact going be of any use to the industry. Instead it will be an attempt to get a piece of the action under the guise of reformation. So I wouldn't be cheering quite yet.

update coming soon

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OTA.... U Alive......

In my opinion there are two obvious omissions.

1. Larry Wainstein and

2. Rian du Plessis

As a start they should be called to explain to selling off of RA share to pay for the acquirement of the Supabet business. How could RA shareholding in Phumelela fall below 30%.

There are many more questions that could be asked but this will do as a start.

Over the Air wrote: In my opinion there are two obvious omissions.

1. Larry Wainstein and

2. Rian du Plessis

As a start they should be called to explain to selling off of RA share to pay for the acquirement of the Supabet business. How could RA shareholding in Phumelela fall below 30%.

There are many more questions that could be asked but this will do as a start.

They amended the trust deed recently to allow it to dip below 30%. Under who’s orders, well we can only speculate

Karma wrote: OTA.... U Alive......

....sh!t also thought we had lost you....thought maybe you got your pension plan topped up....to get you to shut up.... :lol:

.....right about Larry and Duppie not being on the list.....but there are going to be some very interesting depositions....could take years to get some of these.... :whistle:

This will be a ten year saga of who done what and ultimately all those involved should be made to answer one simple question.

Who has benefited from the public listing of racing, all purchases and sales of shares since inception published and the most important question is, has the listing benefitted all roll players in racing?

Quite frankly it is disgusting what has happened but in reality I have found the SA Racing industry a place where the absurd is normal. I am amazed at the rationale that a listed entity that is designed to deliver profit dividends to investors was ever the way to go when racing was and still is going backwards. The decision was taken to add dividend earners to an industry where owners receive less and less in stakes while paying more and more for yearlings, training, vets and colour renewals. Punters get less and less with large take-outs from the pools so I ask myself why was this done in the first place?

I for one am so tired of seeing the same faces in the same or different positions for so many years and those who add value that are not part of the inner circle moved out. There is also a healthy acceptance of conflict of interest in many positions which is taken as normal, no need for a moral compass at all in racing.

To commence in a few days www.sportingpost.co.za/2018/08/public-protector-sets-date/

Has Phumelela issued a SENS cautionary announcement ?

I have just been informed that Phumelela have urgently interdicted the PP to delay Tuesdays hearings. The case will be heard in the Pretoria High Court on Monday 3 September.

I wonder why....