ROB ROSE: The JSE on trial in Pembury Wild West saga
Will the JSE act at a company where directors say they’re having to work in a ‘mad’ environment, and the suspended CEO is on the rampage?
What with all this talk of "restoring governance" in SA, sometimes it’s refreshing to find a bunch of cowboys just doing whatever the hell they like, ethics be damned. Take, for example, the bad satire unfolding at Pembury Lifestyle Group.
The story starts in March 2017, when businessman Andrew McLachlan listed it on the JSE, raising R140m from investors so that Pembury could provide "affordable quality education" and top-quality "retirement living".