SHARE-TRADING PROBE
Short and distort a serious concern, warns Resilient CEO
Resilient CEO Des de Beer has told sell-side analysts that the JSE is prioritising its investigation into recent share trading in Resilient, Fortress, Greenbay Properties and Nepi-Rockcastle. "The short-and-distort strategies are of serious concern to the JSE," De Beer told the analysts, who had been invited to attend a teleconference on Monday. De Beer was referring to allegations that some short sellers were issuing highly critical reports on companies in which they had short positions in a bid to move the market in their favour. De Beer said he thought the Resilient group had been subjected to "an aggressive short-and-distort campaign and that our share price has been manipulated. If you look at the volume of shares dumped on January 11, this doesn’t stand up to scrutiny". The Resilient board had appointed the audit committee to decide the way forward, he said. "We have volunteered to give full access to all our personal information." De Beer acknowledged that the cross-holding b...
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