Cape Town Stock Exchange

The lead shareholder is WGW Capital, the vehicle of former CEO Warren Wheatley.

Last month, the FSCA debarred weekly for 20 years over three trades worth 301 rand in total on the Cape Town Stock Exchange four years ago.

He disputes the findings, but to prevent damage, he resigned from his company as CEO on the 21st of September.

Section 613 of the Companies Act states, lets holders of 10% of the votes demand a meeting.

The lead shareholder is WGW Capital, the vehicle of former CEO Warren Wheatley.

Last month, the FSCA debarred weekly for 20 years over three trades worth 301 Rand in total on the Cape Town Stock Exchange four years ago.

He disputes the findings, but to prevent damage, he resigned from his company as CEO on the 21st of September.

Section 61.3 of the Companies Act lets holders of 10% of the votes demand a meeting.

And we were making our first public offer.

And to ensure the smooth transition of that process and the customer experience, we bought the only brokerage that serviced the Cape Town Stock Exchange at the time.

It was a company called A-Trade.

As we were testing and getting the platform ready, we figured that we found out that there were a number of problems, some cosmetic, but some material problems.

All the evidence was sent to me.

I drafted a report with all the evidence, attaching screenshots, et cetera, et cetera, and sent that off to the management of A-Trade, but not only them, to the CTSC management as well.

JSC is, I mean, that's what Stock Exchange, this one, Cape Town Stock Exchange, CTSC.

You know, the reports weren't manufactured after we found out we were being investigated.

And we see the lashing out by institutions, and it's happening increasingly.

About two weeks ago, the FSCA, which is an organization that I've always thought is pretty well-run and whatever, decided that they would give a 20-year ban to a guy, his wife, and his CFO, because they made three trades in a stock on the Cape Town Stock Exchange, which pretty much trades nothing.

to try and test the system on the Cape Town Stock Exchange.

They interpreted it at the FCSCA as manipulating the share price of a company.

You cannot manipulate the share price of a company on the Cape Town Stock Exchange, believe me, because you've got to kind of have volumes to manipulate it.

They took that decision.

They have banned this guy and his wife.