Can EOH erase the stain?
As suspicious or corrupt deals worth R1.2bn are revealed, investors will need to be convinced this is the last of it
18 July 2019 - 05:00
Stephen van Coller has taken the first step to restoring the reputation of struggling technology group EOH, releasing a forensic report that flags "suspicious transactions" worth R1.2bn.
The report, compiled by law firm ENSafrica over the past five months, is a devastating indictment of the haphazard compliance that developed during the years of stellar growth under founder Asher Bohbot. For years EOH was the market darling; its share price rocketed from 50c when it listed in 1998 to R176 in September 2016. Then the years of reckless acquisitions came back to bite it...
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