LISTED PROPERTY
Resilient: only FSCA can end uncertainty
The company, whose share price collapsed amid allegations of insider trading and market manipulation, says it has done all it can to assure shareholders that its management is not guilty of wrongdoing
Resilient, the founding member of the stable of property companies whose share price collapse amid allegations of insider trading and market manipulation has cost investors more than R100bn, has challenged regulators to speed up their investigations and bring the matter to rest. The company said on Thursday it had done all it could to assure shareholders that its management was not guilty of wrongdoing and that only the Financial Sector Conduct Authority (FSCA) could bring an end to the ongoing uncertainty. It has rejected calls from the country’s biggest fund managers, including the Public Investment Corporation, Allan Gray and Coronation, for an independent probe into the group’s affairs. The company said it wanted the FSCA, which has been investigating since March, to complete its probe so it could move forward with its normal business in 2019. The Resilient stable also includes Nepi Rockcastle, Fortress and Lighthouse Capital. Resilient’s share price is down 56.6% since the star...
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