We are barely through the first quarter and the first big corporate controversy of the year has erupted. Transaction Capital (TransCap) dropped a real clanger last week, perfectly timed to add extra jitters to a market nervous ahead of a potentially volatile “national shutdown”.

Highly regarded investment company Sabvest Capital — an early investor — had the ignominy of having to report results in the wake of the destruction. Fortunately, it sold 1-million TransCap shares in January for close to R50m. But the knock from developments was tangible. ..

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