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
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.