If only it were so easy. Resilient’s share price enjoyed something of a recovery on the expectation of the all-clear from the strangely termed "independent review" carried out, at Resilient’s request, by the former auditor-general, Shauket Fakie. In the week ahead of the actual release of the "independent review" the Resilient share price jumped 30%, recovering from its 12-month low of R50 to close at R65 on the day the report was released. After a six-week investigation, Fakie’s key findings, according to Tuesday’s SENS announcement, are that there is no evidence of executive misconduct or of any market manipulation or insider trading. Indeed, there was no evidence of anything untoward at all, which must be as great a relief to CEO Des de Beer as it is a surprise to his detractors. Strangely, investors did not seem overly impressed with the sparkling endorsement of the group’s upstanding nature. On Wednesday the share price crept up just 31c. The problem is, despite the involvement...
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