DURBAN – Invicta Holdings Limited, a company that Christo Wiese is a major stakeholder in, could be in trouble with the JSE again according to BusinessLive.
The company that just recently settled a R750 million tax bill will be under the microscope again after the JSE reopened their 2016 investigation.
In 2016, the JSE censured Invicta because two of their chief executive's incumbent Arnold Goldstone and former chief executive Charles Walters sold shares to Humulani Marketing, an Invicta subsidiary, without receiving the required permission from the shareholders.
This week the JSE confirmed that they would be putting Invicta under the microscope again after they received information that alleged that the company did not completely and accurately disclose all the relevant facts to the JSE during their 2016 investigation.
According to the JSE, the allegations along with the expected responses and any other information will be forwarded for the JSE's attention and will be considered to pinpoint potential breaches of the listing requirements.
Invicta has denied any misconduct and said that they let the JSE and its auditors, Deloitte & Touche know as soon as they were aware that they had breached the rules of the stock exchange.
Invicta Holding Limited
Arnold Goldstone is currently the chief executive of the company and he serves on the board too according to Bloomberg.
The other two top executives are Anthony Sinclair and Craig Barnard who are both executive directors.
The company runs the distribution of engineering consumables and provides technical services and solutions to both the Southern African region and Singapore.
Some of the engineering consumables that company distributes include power transmissions, bearings, on-site installation and design engineering among other things.
According to Bloomberg, the company has 4 500 employees.
Follow the Business Report on Instagram here
BUSINESS REPORT ONLINE