ROB ROSE: Where’s the JSE in Pembury fiasco?
Until now, there’s been no sheriff calling anyone to account in the wild west that is schools group Pembury. Will an allegation of stock manipulation change that?
Valued at just R41m, Pembury Lifestyle Group (PLG) is one of the smallest companies on the JSE. But it isn’t always the size of the company that matters; sometimes a minnow assumes outsize importance because of the fractures it reveals in the institutions set up to make sure our market isn’t run with all the discipline of Boris Johnson’s straw-coloured mop.
Pembury, which set up 11 schools to provide "affordable quality education" to more than 2,400 children, while also opening a string of retirement villages, is just that example.