The secret grave of JCI

The secret grave of JCI

The proposed transaction is strange and possibly sinister

JCI, once the mother ship of the late Brett Kebble, is desperately involved in a dodgy scheme to quietly bury itself, while pretending to do something else. Investec, the somewhat controversial Johannesburg-based niche bank, holds 898 million  shares in JCI – 26.7% of the equity – and is owed R89m by a JCI which until very recently was seriously short of cash with which to pay the debt.

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Submitted by : Mike Turner of RANDBURG on 2014-09-30 14:38:41
I might ask the same question of my investment in Allan Gray ?

Editor's Note
It depends: If the same funds managed by Allan Gray were invested in both JCI (where all was lost) and Western Areas Gold Mining, where a valuable asset was saved, then it could at least be argued that Allan Gray had acted in its investor-clients' interests. However, things get a lot trickier if the clients invested in the loser where not identical to those invested in the winner: in that case you could find yourself having paid to save someone else's investment or, worse, maybe Allan Gray's own investment! These are all critical questions that the company, if it is as reputable as it claims to be, really ought to answer. – Editor
Submitted by : Donn Edwards of ALDARA PARK on 2014-09-27 17:49:19
If Investec can get away with this sort of nonsense, how safe are my unit trusts under their management? Should I move them to another financial institution, or are they all equally risky?


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