Fortress vows to respond to calls for an independent investigation soon
The property company is facing allegations of poor corporate governance under chair Iraj Abedian's watch
Fortress chair Iraj Abedian says the property company, which is facing allegations of poor corporate governance under his watch, will respond to calls by some of SA’s largest institutional investors for an independent investigation by month end. A special ad hoc committee, formed on September 6 to consider the request by institutional investors such as the Public Investment Corporation, Allan Gray, Coronation and Old Mutual, is due to provide a response by the end of September, he told Business Day. "They are currently analysing the company internally and will decide if an investigation should take place, in their opinion. "They will ascertain the scope of the investigation and will communicate it to the investors who have raised concerns about Fortress and its operations," he said. The committee has no limitations on its scope, he said. "They have full authority to investigate not only the internal matters that they are busy with but also explore the feasibility, scope and the mand...
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.