Too little, too late to stop Ponzi plots

2013-03-13 11:41

Any positive steps taken to protect the investing public have to be done with some form of authority and meaningful implementation, says an investor activist.

Some loss for investors

2011-05-26 00:00

At long last the so-called new independent directors of Sharemax-promoted property syndications admitted last week that investors will – or already have – lost a large portion of their capital.

Sharemax malls may be saved

2011-05-03 08:21

Sharemax’s biggest property syndications have been saved from liquidation, but investors may have to wait up to 20 years for their money.

Nightmare time

2011-04-28 00:00

Estate duty, at 20% of the inflated value still being placed on Sharemax-promoted investments, represents a significant threat to estates with large exposure to such investments.

A scheme to save Sharemax

2011-03-24 00:00

“The Reserve Bank directive that investors’ capital must be protected certainly doesn’t mean the statutory managers may not sell assets at less than cost price or syndication value.” – Advocate Michael Blackbeard, for the Bank

New plan punted to save Sharemax

2011-03-23 07:02

Financial advisers are advocating a Section 311 scheme of arrangement to settle the affairs of the embattled company, writes Vic de Klerk.

Vontas still eyeing Sharemax

2011-02-14 11:10

Real estate personality Niki Vontas is waiting in the wings as Sharemax's statutory manager completes an evaluation of the company, writes Joan Muller.

Sharemax saviour in cash crunch

2010-11-21 08:30

Realcor, one of the companies that has come to the fore as a possible white knight for Sharemax, itself has problems managing cash.

Sharemax appoints acting MD

2010-10-13 18:40

Former managing director was relieved of duties in August amid allegations of impropriety and firm running out of funds to complete its latest syndication.

Sarb orders Sharemax to refund backers

2010-09-17 14:01

The South African Reserve Bank has directed Sharemax and its 35 syndication companies to repay funds allegedly collected illegally from investors.

Bonatla vows Sharemax disclosure

2010-09-12 10:39

Investors in Sharemax's property syndicates may this week get an independent look at the condition of the companies in which they invested their money.

Sharemax: dream on

2010-09-09 21:27

Steve Booysen and Dawie Roodt are not yet in bed, but they are keen, says Vic de Klerk.

Sharemax 'a house of cards'

2010-09-05 15:26

Property syndication company Sharemax Investments wants to sell its investors' shares to an small listed property firm, while failing to pay dividends to backers.

Tax on The Bay, now or later?

2010-06-10 00:00

SHAREMAX INFORMED us last month – via its legal representatives – that our interpretation that investors could be liable to annual tax on the projected interest of 20% that can be earned on The Bay – even if the interest is only paid in no less than five years’ time – was wrong. Sharemax’s interpretation of its prospectus is that the tax burden only becomes due after five years, when the actual interest rate is determined and the interest paid.

'n Berg of 'n molshoop?

2010-05-06 00:00

Ná baie vertragings het die nuwe winkelsentrum Zambezi Retail Mall noordoos van Pretoria waarin beleggers van Januarie 2008 tot Maart 2009 sowat R543 miljoen belê het, verlede week sy deure geopen.


Sharemax et al: brokers to pay up

2012-09-10 09:23

Clients who have lost billions in dubious property schemes can now claim the money back from advisers without lodging a claim in the high court.


2011-05-12 00:00

The two main shareholders of Sharemax Investments – Willie Botha and André Brand – will receive R40m in exchange for their so-called claims against the Sharemax promoted property syndications in terms of the proposed scheme of arrangement for Zambezi Holdings.

More woes for investors

2011-04-28 00:00

Those Sharemax-promoted investors who poured R765m into the Zambezi Mall development since 2007 will receive their documentation on the proposed Article 311 scheme in a week or two.

Panic over another property scheme

2011-04-05 07:58

Alarm is spreading among thousands of investors in another big property syndication manager.

Sharemaxers droom voort

2011-03-24 00:00

“Die direktief van die Reserwebank dat beleggers se kapitaal beskerm moet word, beteken allermins dat die statutêre bestuurders nie bates teen minder as kosprys of sindikaat-waarde mag verkoop nie.” – adv. Michael Blackbeard, Reserwebank

Why Sharemax deserves a death blow

2011-03-08 06:49

Vic de Klerk calls for a coup de grâce for Sharemax and its property syndications, which have been mired in controversy for several months.

Sharemax uncertainty nearing end

2011-01-19 06:39

A scheme has been proposed to set in motion a process to determine how much each investor could get back.

Sharemax investors face disaster

2010-12-08 06:37

Embattled investors in a Sharemax property scheme are encountering fresh problems.

Sharemax: New directors take charge

2010-11-03 07:08

Independent directors, empowered with the deciding vote, will now attend to the interests of shareholders in Sharemax's property companies.

Sharemax bidding in turmoil

2010-09-30 17:41

While a Cape-based developer claims it has concluded an agreement with Sharemax, listed property group Bonatla says its bid is a done deal.

No relief for Sharemax backers

2010-09-15 13:24

Investors in property syndication group Sharemax's Zambezi Retail Park and The Villa will be excluded from the benefits of a reverse listing into Bonatla.

Rescue plan for Sharemax on table

2010-09-10 06:43

Sharemax has accepted a rescue plan to walk away from The Villa and Zambezi Retail developments.

Former Absa CEO linked to Sharemax

2010-09-07 13:46

The latest rumour around property syndicate group Sharemax is that some Efficient Financial Holdings directors are climbing into bed with the founder of Sharemax.

More questions surface on Sharemax

2010-08-01 11:43

The Reserve Bank's investigation into the affairs of property syndication company Sharemax has given rise to many questions about the group's business model.

Explain, please

2010-05-06 00:00

AFTER MANY DELAYS, the new Zambezi Mall shopping centre north-east of Pretoria - into which investors put around R543m between January 2008 and March 2009 - opened last week. Capicol is the developer and Sharemax the promoter of the 30 000sq m shopping centre, which has been valued at more than R1bn.

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