JSE investigators assess Bonamour's offshore frolic


JSE investigators assess Bonamour's offshore frolic

Which way will Tiso Blackstar chairman David Adomakoh and the Concert Party jump? 

The investigations unit at the Johannesburg Stock Exchange has been assessing Noseweek’s revelations (nose216) that an unconventional offshore money-spinner enriched media giant Tiso Blackstar’s chief executive Andrew Bonamour and his asset-stripping mentor Julian Treger by up to R295m.The London Stock Exchange has launched its own investigation.

Our story told how, for more than three years, Bonamour used his British Virgin Islands-registered company, Blackstar Managers, to identify Black Economic Empowerment investment opportunities in South Africa, and billed his own newly-listed Blackstar Investors Plc for millions in performance and advisory fees.  

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Submitted by : Jimmy Mould (Plaintiff No.2), Diep River on 2017-10-30 09:28:53
Given Andrew Bonamour's personal history as quite brilliantly revealed by Noseweek, I am simply amazed that anyone (Sholto Simpson /WTF?) dares to come to his defence. Jack Lundin deserves a medal for his persistence in revealing the REAL facts and for bringing the sordid goings-on at Tiso Blackstar to the attention of the public. One wonders what Sholto Simpson's connection is with the evil empire. Is this yet another public relations exercise?
 
Submitted by : Chuck Pringle on 2017-10-30 08:40:46
To Mr Simpson, for it is he who chooses to hide his interest by using a nom de plume: Jack Lundin's rebuttal to your ill-conceived letter tells it all. When reading Noseweek I always look first for articles by Jack, knowing that they will be well written and researched, as well as entertaining and informative. I have no doubt about the guilt of those he names in this case.
 
Submitted by : beachcomber on 2017-10-29 20:12:36
Excellent stuff please keep digging!
 
Submitted by : WTF? on 2017-10-27 03:19:59
This is terrible journalism. How can one honestly believe a writer that continuously misspells names whilst pouring their obvious emotional bias across the pages! Do some research before you write. Even when statements are factual the context is so derived its practically misrepresentation. Perhaps the author can share the secrets of their investment success (considering his clearly superior understanding of company valuations and concert parties and share swaps - consider how many TMG shares the PIC owned before swapping into Tiso Blackstar and how many they must have sold thereafter before making statements regarding its holding) and what we should be looking at instead of EBITDA...

I struggle to take this seriously. Done any unanesthetized ops lately Dr Jack?

Editor's Note
Jack Lundin replies: I note that you fail to mention that your firm, the “boutique” corporate advisory company One Capital, acted as sole corporate advisor and transaction sponsor to Blackstar SE on its acquisition of the remainder of Times Media’s share capital in February 2015, and as sole corporate advisor to Tiso Investment Holdings and the Tiso Foundation Charitable Trust on their disposal of their 22.9% interest in Kagiso Tiso Holdings to Blackstar Group SE in December 2014. So it’s easy to see where your misplaced loyalty lies.

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