Shauket Fakie, the head of the independent review into property group Resilient, has agreed to speak to one of the company’s biggest critics, 36One Asset Management, before he concludes his investigation. Resilient’s share price climbed 9.94% to close at R59.37 hours before the announcement on Friday. Management at the Resilient group of property companies has been accused of share manipulation in numerous reports. This suggests that share prices had been kept artificially high by a series of secretive trades by people closely related to the group. Fakie was SA’s auditor- general under former president Thabo Mbeki and was chosen by Resilient in February to lead a review into the company. Resilient as been criticised in reports by hedge fund managers and stock brokers. One of these reports was compiled by 36One Asset Management. The investment manager, led by co-founder and CEO Cy Jacobs, has suggested that the share prices of Resilient and its partner companies have been manipulated...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.