Resilient’s fight with short seller set to intensify
A JSE probe follows the release of a damning 50-page report into Resilient and its related property firms
The battle between property group Resilient and a previously anonymous short seller, identified as 36ONE Asset Management, looks set to heat up considerably this week as the JSE announced it was investigating recent trading of the shares in the Resilient stable. The JSE announcement follows the release of a damning anonymous 50-page report into Resilient and its related property firms, Fortress REIT, NEPI Rockcastle and Greenbay Properties. The report was circulating widely in the investor community on Friday, with one investor describing it as an "apparently well-researched report that could have potentially devastating consequences". The report’s primary conclusion is that the premium valuation of each of the companies in the Resilient stable "did not arise from normal market activity, but from deliberate and frequently concealed actions by some of the influential owners and key management of the group". At the market close on Friday Resilient issued a stock exchange announcement ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.