Tag Archives: BK One

Hof hoor van band tussen Cobus Kellermann, Herman Pretorius

10 May

Author: Nellie Brand-Jonker 

Publications: Netwerk24

Date Published : 10 Mei 2015

Die baasbrein agter Suid-Afrika se reuse-RVAF-piramideskema, wyle Herman Pretorius, word in hofstukke in Guernsey oor beleggingskemas genoem waarby die Kaapse batebestuurder Cobus Kellermann betrek word.

In die hofstukke daar word gesê van die hoogs riskante Suid-Afrikaanse beleggings wat Kellermann as ’n portefeuljebestuurder van ’n Guernsey-fonds gemaak het, was in maatskappye van Basileus Investments.

Wie was Basileus Investments?

Basileus Investments het in 2012 die nuus gehaal toe sy uitvoerende hoof, Julian Williams, in sy kantoor in die middestad van Kaapstad deur Preto­rius doodgeskiet is. Pretorius het homself daarna geskiet.

Volgens die hofstukkie is die JSE-genoteerde BK One gestig as ’n voertuig waardeur kapitaalinspuitings gemaak kon word om die Basileus-verwante maatskappye te ondersteun.

Paul Yabsley, die ondersoeker van Guernsey se finansiële owerheid, skryf in die hofstukke dat die Strategic-fonds in ’n stadium onder leiding van Kellermann direk en indirek deur fondse van Mauritius beleggings en lenings aan Basileus en sy verwante maatskappye gemaak het.

Die hofstukke verduidelik ook hoe die Strategic-fonds in wese R71 miljoen geleen het aan ’n maatskappy om ’n plaas in Helshoogte te ontwikkel en daarna weer R72 miljoen opgedok het om die plaas te koop – om dié lenings aan homself terug te betaal, volgens Yabsley.

Yabsley verwys na die skietvoorval op 26 Julie 2012 toe Williams deur Pretorius geskiet is, glo oor ’n dispuut oor geld wat Basileus se maatskappy AV Alloy aan hom moes betaal het.

Daar is berig dat dié geld deur Pretorius gebruik is om die beweerde piramideskema te finansier. Dit het later aan die lig gekom dat beleggers R2,2 miljard in Pretorius se Relative Value Arbitrage Fund (RVAF) belê het.

Belangebotsings?

Die hofstukke verwys ook na die hoogs omstrede transaksie wat Kellermann gedurende die week van die skietvoorval met BK One-aandele uitgevoer het om die aandele te verkoop. Kellermann was in daardie stadium die eienaar en portefeuljebestuurder van Ankh Analytic wat ’n Ankh-fonds bestuur het wat BK One-aandele besit het.

Ná die skietvoorval het BK One se aandeelprys skerp geval.

Volgens Yabsley is die BK One-aandele aan die Strategic-fonds verkoop teen die prys waarop dit op 25 Julie 2012 verhandel het.

Daar is geen bewyse tot die Guernsey finansiële kommissie se beskikking dat Kellermann in daardie sta­dium enige poging aangewend het om die skietvoorval van Pretorius en Williams en die negatiewe uitwerking wat dit waarskynlik sou hê op die BK ­One-aandele te openbaar nie, voer Yabsley aan.

“Alle aspekte van hierdie transaksie is hoogs twyfelagtig. Sonder twyfel is die Ankh-fondse se belange in BK One verkoop tot voordeel van beleggers in die Ankh-fondse en tot nadeel van die beleggers in die Strategic-fondse.

“Kellermann het groot belangebotsings gehad in alle dele van die transaksie met sowel Ankh as die Strategic-fondse.”

Yabsley sê Kellermann moes al in Junie 2012 bewus gewees het van die bewerings oor die bedrieglike beleggingskema van Pretorius.

Kellermann het onlangs aan Die Burger gesê die opdrag om die BK One-aandele te verkoop, is gegee ’n dag voordat Williams geskiet is. Volgens hom het dit verband gehou met die administrateur van Ankh se opdrag om sekuriteite te verkoop om likiditeit in die fonds te kry.

“Die vereffening van die aandele vind ’n dag of twee ná die transaksie plaas. Daar is niks ongerymd daaraan nie.”

Volgens hom is dit deur die Raad op Finansiële Dienste ondersoek, wat gelukkig was met die antwoorde.

 

Dienstekommissie onthul: Ponzi-manne ‘het lang geskiedenis’

6 May

Author: Marelize Barnard

Publications: Netwerk24

Date Published : 6 Mei 2015

KAAPSTAD. – Wat het die Ponzi-bedrieër wyle Herman Pretorius, die man wat hy doodgeskiet het, Julian Williams, en die beleggingsbestuurder van Welgemoed, Jacobus Kellermann, met mekaar te doen?

’n “Lang geskiedenis” – as dit van die Finansiële Dienstekommissie van die Britse eiland Guernsey (GFSC) afhang.

Die skietery waarin Pretorius op 26 Julie 2012 eers vir Wil­liams en daarna homself geskiet het, is in die Guernsey-hooggeregshof vir die eerste keer in openbare hofdokumente aan internasionale aandeletransaksies gekoppel.

Kellermann, wat net soos Pretorius spogeiendom in Welgemoed aangeskaf het – en ook soos Pretorius ’n voorliefde vir vinnige sportmotors het – word by dié aandeletransaksies betrek. Kellermann en sy sakevennoot, David Cosgrove, is die afgelope twee maande al hoe meer in die nuus oor die beleggingsfondse waarby hulle in veral Mauritius en ook Guernsey betrokke is en ondersoeke na hul betrokkenheid by die bestuur van internasionale beleggingsfondse.

Die Pretorius-skietery:

Pretorius en Williams se skietdood was ’n dag nadat Kellermann betrokke geraak het by die verkoop van 1,4 miljoen aandele in die beleggingsmaatskappy BK One, wat gebruik is as beleggingsmedium om beleggers te kry om in maatskappye te belê wat aan die Basileus-groep behoort het.

Pretorius se beleggers het in een van die Basileus-maatskappye, AV Alloy, belê. In Pretorius se poging om sy Ponzi-skema geheim te hou, het hy R40 miljoen aan Williams geleen om aan sy beleggers uit te betaal en daardeur te probeer voorgee alles gaan goed.

Williams en Pretorius het hieroor gestry, wat klaarblyklik tot die skietvoorval gelei het.

Op dieselfde dag van die skietvoorval is 1,4 miljoen aandele in BK One verhandel. Dit is aandele wat aan Ankh behoort het, ’n beleggingsfonds wat deur Kellermann bestuur is.

Die verkoop van aandele:

Die Ankh-aandele in BK One is volgens die Guernsey-hofstukke deur nog ’n entiteit, Citygate (’n maatskappy in Mauritius wat deur Kellermann en Cosgrove bestuur is), aan nog ’n entiteit, Strategic Cells, verkoop. Die verkoopsprys was glo teen die waarde van die aandele soos vasgestel die dag voor die skietvoorval.

Intussen het die skietvoorval ’n “dramatiese” impak gehad op die waarde van die BK One-aandele. “Alle aspekte van die transaksie” kan volgens die hofstukke voor die Guernsey-hooggeregshof op hoogste vlak bevraag-teken word. Daar word aange-voer dat Kellermann in ’n groot-skaalse belangebotsing was omdat hy namens Ankh én Strategic Cells opgetree het.

Kellerman het volgens die bewerings van die Guernsey Finansiële Dienstekommissie nie die nodige inligting van die skietvoorval of die moontlike negatiewe nagevolge wat dit op die BK One- en Basileus-aandele sou kon hê aan die relevante betrokkenes verklaar nie.

Wat sê Kellermann?

Kellermann het op 25 Maart aan Die Burger gesê hy was as raadgewer betrokke by ’n maatskappy wat genoteerde BK One-aandele gekoop het. Die beleggingspan het dit verkoop na aanlei-­ding van ’n versoek van die besturende maatskappy om kontant in die portefeulje te verhoog.

Kellermann en Cosgrove het gister deur hul regsverteenwoordiger, Werksmans-regsfirma, by navraag oor die bewerings in die Guernsey-hofaansoek gesê hulle gaan vir eers nie verder kommentaar lewer nie.

SA fund manager faces big losses in Herman Pretorius fallout

3 Oct

Author: Julius Cobbett

Publications: MoneyWeb

Date Published: 03 October 2012

JOHANNESBURG – Two Mauritius-based funds, managed by a South African, face big losses as a result of the Herman Pretorius homicide. On July 26 Herman Pretorius shot dead his former business partner, Julian Williams, and then himself. It was later revealed that Pretorius had been operating a R3.1bn Ponzi scheme.

Williams was CEO of private-equity company Basileus Capital. He was also associated with JSE-listed BK One, which has its entire R200m portfolio invested in four Basileus-related companies. The homicide created problems for BK One, because Williams played a key role in its investments.

Already one of BK One’s four investments, Tor Construction, has been placed under provisional liquidation as a result of the shooting. BK One has since proposed an injection of various Basileus assets as part of a business rescue plan.

The biggest investor in BK One is a Mauritius-registered fund called ………

Continue reading this article

Fund’s lucky escape from Herman Pretorius fallout

12 Sep

Author: Julius Cobbett

Publications: MoneyWeb

Date Published: 12 September 2012

Fund sold its entire stake in listed Julian Williams entity on the day he was shot.

JOHANNESBURG – Fund manager Ankh Analytic sold its entire stake in BK One on the day Basileus Capital CEO Julian Williams was shot.

The sale was a very lucky escape for Ankh, because BK One’s portfolio consists of four Basileus-related companies. One of these companies, Tor Construction, has already been placed under provisional liquidation in the fallout of Williams’s death. The remaining three ………

Continue reading this article

BK One Limited – Reports and Share Info

10 Sep

Proposed Acquisition and Renewal of Cautionary Announcement

28 August 2012

Announcement regarding the proposed acquisition by the Company of Basileus Capital Proprietary Limited’s (‘Basileus Capital’) controlling interests in select assets (the ‘Target Assets’) (the ‘Proposed Acquisition’) and renewal of cautionary announcement.

Further Cautionary Announcement and Recommencement of Trading

24 August 2012

BK One shareholders (“shareholders”) are referred to voluntary suspension of trading announcement released on SENS on 23 August 2012.

BK One to take part in Basileus Capital rescue

29 Aug

Author: Donwald Pressly

Publications: iOL

Date Published: 29 August 2012

BK One is poised to acquire a majority stake in various Basileus Capital businesses including a cash management services firm, prospecting rights, oil and agri-technology operations.

In an announcement yesterday, BK One announced its proposed acquisition of Basileus Capital’s interests “in select assets and renewal of a cautionary announcement”. This follows an announcement two weeks ago by Basileus Capital that it had initiated business rescue proceedings, following the killing of chief executive and co-founder Julian Williams allegedly by his former business partner Herman Pretorius on July 26. Pretorius turned the gun on himself afterwards.

Moneyweb reported that Basileus Capital was seeking to have its assets listed on the JSE through BK One. Private equity provider BK One’s preference shares are listed on the JSE but its ordinary shares are not. It is not clear whether the proposed transaction would be funded with ordinary shares or preference shares.

In terms of the rescue process, a majority of the affected creditors must approve the rescue plans.

BK One was launched by Basileus Capital and Kwanda Capital Investments. It raised R200 million in an initial public offering on the JSE after offering 20 million preference shares at R10 a share in December last year.

Three weeks after its chief executive’s death, Basileus Capital, which employs about 50 people, announced on its website that following “the tragic loss of Julian Williams… the board… has initiated business rescue proceedings”. “This measure was taken in order to protect all existing stakeholders, in particular the group’s current creditors, investors and staff.”

BK One reported yesterday that it would acquire “the target assets” from Basileus Capital subject to a number of conditions and the purchase consideration “will equal 90 percent of the value of the target assets”, as determined by the business rescue practitioners and confirmed by an independent valuer appointed by BK One.

There are seven target assets, three of which BK One already has an interest in.

n BK One currently has a 7.7 percent interest in Pure Ocean Aquaculture, a fish-farming firm. It seeks a further 86.3 percent interest, which is held by Basileus.

n Basileus Capital intends disposing of its 76 percent interest in physical cash management services firm Cash Connect to BK One.

n BK One seeks to acquire Basileus Capital’s 77 percent interest in Kawuleza Connect, which offers internet access services to customers throughout South Africa.

n BK One seeks to acquire Basileus Capital’s 98 percent interest in Lefatse Minerals, which is involved in the exploration and development of heavy minerals. It has prospecting rights over a deposit on the West Coast.

n BK One seeks to acquire Basileus Capital’s 94 percent interest in Burgan Oil Services, which is looking to develop fuel infrastructure facilities.

n BK One seeks Basileus Capital’s 100 percent interest in Tor Oil Infrastructure Construction, a new oil infrastructure development specialist.

n BK One will acquire Basileus Capital’s 82 percent interest in Agri-Technologies and Services, which provides technology solutions to the agricultural sector.

BK One noted that depending on the settlement mechanisms of the proposed acquisition – BK One ordinary or preference shares – the company “may be required to restructure its share capital”. This would require shareholder and JSE approval.

BK One executive director Dean Richards could not be drawn on a transaction price, but this would be determined by business rescue practitioner Alan Rennier of Ren Trust and independent valuers.

It is understood that existing Basileus staff will be absorbed and new staff will also be appointed.

Troubled Basileus Capital wants to list assets on JSE

28 Aug

Author I-Net Bridge

Publications: MoneyWeb

Date Published: 28 August 2012

BK One the intended home for seven companies with an unknown value.

Johannesburg‚ Aug 28 (I-Net Bridge) – BK One Limited (BK1P) announced on Tuesday that last week it had entered into a binding memorandum of understanding for it to acquire various target assets from Basileus Capital.

The target assets consist of seven assets‚ three of which the BK One already has an interest in. They include Pure Ocean‚ Cash Connect‚ Kawuleza Connect‚ Lefatse Minerals‚ Toroic‚ Burgan Oil and Agri-Tech.

“The company (BK One)‚ through its historic …….

Continue reading this article

Death of Julian Williams causes liquidation threat for JSE investors

23 Aug

Author: Julius Cobbett

Publications: MoneyWeb

Date Published: 23 August 2012

director James Ngculu seeks liquidation of a BK One investment.

JOHANNESBURG – Basileus Capital director, James Ngculu wants an investment of JSE-listed BK One declared insolvent. Ngculu is a former ANC member of parliament and the right-hand man of the late Basileus CEO Julian Williams.

Ngculu drafted an affidavit calling for the liquidation of road-building business Tor Construction. Tor Construction is one of four companies …..

Continue reading this article