CAPE TOWN – After several media reports on how the Public Investment Corporation (PIC) intends to liquidate Sekunjalo Investment Holdings, the company chairperson Dr Iqbal Survé said: “We need to reiterate and reinforce our statement of yesterday that the PIC has never loaned any monies to Sekunjalo Investment Holdings and the Sekunjalo Group.”
Sekunjalo has not signed surety nor issued any put options to the PIC, said Survé. “It is, therefore, bewildering to us that the PIC could consider liquidating Sekunjalo Investment Holdings for a debt it is not tied to."
Survé said the letter referred to by acting executive head of legal, governance and compliance Lindiwe Dlamini in her submission to Parliament was sent to Sekunjalo Investment Media, a ring-fenced independent legal entity within the Sekunjalo Group. "This was dealt with at the time and any further actions pertaining to this letter will be dealt with by the normal court process. No correspondence of any such nature has been received by Sekunjalo Investment Holdings (SIH) or the Sekunjalo Group."
Sekunjalo, through its lawyers, wrote to the PIC and gave the asset manager until the close of business on Wednesday to clarify their statement. “Failure to do so will see Sekunjalo exercise its right to not only institute a damages claim against the PIC but, also against Dlamini in her personal capacity.”
The PIC said it reserved its rights and would elect not to make further public statements at this time until any anticipated and real legal proceedings – of whatever form or manner they may take – were instituted before court.