There are ongoing negotiations with third parties regarding the provision of post- commencement finance and accordingly, there are disparate levels of information in the market which cannot be remedied by the immediate publication of announcements to clarify the situation
Talks with a capital provider and banks are underway to salvage at least part of the business, said the people, who asked not to be identified as the details of the terms are private
The Board’s current view is that even if financial relief can be obtained, a relief package should be negotiated as part of a business rescue plan
Can we escape the mistakes of a failed model, and weld together a model that maximises the foreign exchange and the loyalty of local support?
The Phumelela share price dipped to a new low of R0-80 at close yesterday after massive volumes had been traded
Gauteng Government negotiations and restructuring in the pipeline
Phumelela have renewed their notice that the Company remains under cautionary as engagements with the MEC and the Gauteng Gambling Board are still in progress
It remains a mystery why these directors and prescribed officers of Phumelela have not stepped down voluntarily and whether they fully understand the provisions of section 77 of the Companies Act that covers liability of directors and prescribed officers
Hapless CEO doesn’t seem to have any answers as blame and excuses dominate the announcement
SA horseracing needs strong leadership – today. Otherwise we are doomed. Stakeholders don’t need this kind of circus!
A former Bloemfontein champion trainer, Michael McLachlan was a popular character in the halcyon days of horseracing and now finds himself in dire need
