The shares were further plunged into the red by Eskom, after the power utility published allegations that its former chief procurement officer, Jay Pillay, and “other senior officials” in the procurement team were involved in acts of misconduct involving EOH, the listed technology group.
The share price slid by more than 15 percent after the allegations to R26.76 on Tuesday. However, it recovered on Friday as it was up by more than 4percent to close at R27.81 at the end of the day.
Eskom published a statement last Monday, stating that a member of the board and audit and risk committee, George Sebulela, did not declare a conflict of interest, and did not recuse himself on deliberations involving EOH, which was a supplier to Eskom.
However, EOH said the allegations were not new.