MEDIA BUSINESS
West African businessman joins wrangle over JSE listing of Sagarmatha
The controversial proposed listing of Sagarmatha Technologies on the JSE next Friday has become more fraught, with reports that a former chairman of the African News Agency (ANA), the Independent Media group wire service, has initiated legal action aimed at interdicting the listing. West African businessman Ladislas Agbesi, who claims to own the majority of ANA, brought an urgent application last Thursday asking the High Court in Johannesburg to restrain or interdict Sagarmatha from listing on the index. But the judge declined to hear the matter urgently. Agbesi then told Business Day he was pursuing the action on a non-expedited basis. "They can go ahead with the listing, but [it] must not include ANA," he said. The JSE was cited as a respondent. JSE head of listings Andre Visser told Business Day the JSE would abide by the high court decision. On Friday, ANA released a story saying the proposed listing had been postponed to Friday April 13 2018 from April 11. The initial date in t...
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