Cape Town - AEEI and its CEO, Khalid Abdulla, on Tuesday laid a charge of attempted extortion against Magda Wierzycka, CEO of Sygnia Limited, an asset management company listed on the JSE.
The charge of attempted extortion was lodged following Wierzycka’s alleged approach to Abdulla to buy back the shares that Abdulla, AEEI, its majority shareholder Sekunjalo Investment Holdings have in Sygnia at a substantially lower price. Failing this, she threatened to continue to write negative stories about Sekunjalo, AEEI and its associated company, AYO Technology Solutions.
Collectively, the three entities own approximately 3,5 million shares. At the time of the alleged attempted extortion, the undue benefit to Wierzycka would have amounted to millions of rands.
“I am shocked by this blatant attempt at extortion. By law I am obliged to report this matter to the police and take the necessary legal action," said Abdulla.
Sekunjalo’s chairman Dr Iqbal Survé said it was time to expose the underhanded dealings of individuals who feign a different view in public but behind the scenes attempt to extort companies for their undue benefit.