Tag Archives: SA Superalloys

Makelaar vandag in hof gepak

10 Dec

Author: Marelize Barnard

Publications:  Die Burger

Date Publiched: 10 December 2013

KAAPSTAD. – ’n Makelaar wat beleggers na Herman Pretorius se beleggingskema verwys het, word vandag in die Wes-Kaapse hooggeregshof gepak oor die terugbetaling van miljoene rande se kommissie.Een van die kurators van Pretorius se Relative Value Arbitrage Fund (RVAF), Lambertus von Wielligh Bester, dien vandag ’n aansoek by die Wes-Kaapse hooggeregshof in teen Michal Calitz om kommisie terug te betaal.

Bester het by navraag gesê die regstap teen Calitz is die “eerste van vele” om kommissie te probeer verhaal van die makelaars wat beleggers na Pretorius se skema verwys het.

’n Ondersoek na die kommissie wat aan makelaars betaal is, is “die aspek waaraan ouditeure nou aandag gee”, het Bester gesê. “Die makelaars word nou een vir een nagegaan.

Calitz se prokureur, Jean Kotze (van Laäs en Scholtz Prokureurs), het gesê Calitz gaan vandag die aansoek in die hooggeregshof teenstaan.

“Calitz staan dit teen en ontken aanspreeklikheid vir die bedrag geld wat van hom geëis word.”

Volgens Kotze is Calitz, soos die duisende beleggers wat by Pretorius belê het, “ook deur Pretorius bedrieg” en het hy nie geweet waarmee Pretorius besig was nie.

Calitz is vroeër vanjaar deur die likwidateurs van Pretorius se RVAF Trust ondervra as deel van hul likwidasie-ondersoek.

Die Burger het vantevore berig ’n verslag is daarna deur die likwidateurs by die meester van die hooggeregshof ingedien waarin gesê is dat Calitz ’n kommissie van meer as R15 miljoen ontvang het.

Calitz het hierop beswaar teen die likwidateurs se verslag by die meester van die Wes-Kaapse hooggeregshof ingedien en aangevoer dat die bedrag aansienlik minder is.

R8,44 miljoen

Die likwidateurs het geantwoord dat dit nie die bedoeling van die verslag was nie, en het dit op rekord gestel dat Calitz in sy ondervraging te kenne gegee het dat hy ’n bedrag van sowat R8,44 miljoen van Pretorius ontvang het.

Dié bedrag sluit enige moontlike betalings uit wat verband hou met beleggings in entiteite soos SA Superalloys, Lehumo en Wesizwe.

Dit is nog onduidelik hoeveel die likwidateurs van Calitz eis omdat die aansoek hieroor volgens die hofrol eers vandag deur ’n regter aangehoor sal word.

Lees Artikel in Die Burger

Rekenings wêreldwyd ‘bevoordeel familie’

19 Oct

Author: Jacques Dommisse

Publications:  Die Burger

Date Publiched: 19 October 2012

KAAPSTAD. – Verdere forensiese ondersoeke deur die kuratele van entiteite van wyle Herman Pretorius, wat honderde beleggers uit miljarde rande verneuk het, skets ’n prentjie van ’n aartsbedrieër wat onder meer rekenings in Switserland, Londen en Mauritius gebruik het om hom en sy gesin te bevoordeel.

In totaal is 26 maatskappye en beslote korporasies geïdentifiseer waaraan Pretorius gekoppel word. Dan het hy ook trusts gestig waarin beleggers se geld gestort en rondgeskuif is, onder meer na sy persoonlike bankrekening, word uitgewys in ’n verslag van die kuratele.

Sy vrou, Susan, en twee seuns is  ………

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“I am deeply sorry” – Herman Pretorius broker

4 Sep

Author: Julius Cobbett

Publications: MoneyWeb

Date Published: 04 September 2012

Death threat and a summons for New Zealand-based, FSB-registered financial adviser.

JOHANNESBURG – In May last year, financial adviser Simon Morton got a new client. She was 61 years old. The client, Betty*, asked Morton to set up an investment portfolio for her retirement.

Morton’s advice was for Betty’s husband to withdraw funds of R1 150 000 from Stanlib. Morton recommended that half this money be placed in an unorthodox “hedge fund”. The other half was to be split between an unlisted company called SA Superalloys, a junior platinum company called Wesizwe, and a “new fund” called Abante Holdings.

Needless to say, this was bad advice. All of the above ………

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Basileus seeks business rescue after death of CEO Julian Williams

14 Aug

Julian Williams

Author: Julius Cobbett

Publications: Moneyweb

Date Publiched: 14 August 2012

Business rescue includes SA Superalloys which owes R140m to 500 investors.

JOHANNESBURG – Basileus Capital, a private-equity firm that employs nearly 50 people, has initiated business rescue proceedings. This comes nearly three weeks after the death of Basileus CEO Julian Williams. It is believed that Williams was shot dead by his former business partner Herman Pretorius, who committed suicide afterwards.

The initiation of a business rescue is the second act of insolvency to result from the murder. Less than a week after the ………..

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Hedge Fund Murder Suicide – Julian Williams Shot By His Partner Update

5 Aug

Author: Hedgehottie

Publications: hedgeho.com

Date Published: 05 August 2012

Julian Williams was shot by his partner Herman Pretorius who shot himself after.  Williams was in a business dispute with Herman Pretorius, an investment manager of an unregulated asset management firm called Relative Value Arbitrage Fund.  Pretorius turned the gun on himself after shooting Mr. Williams. Hedge fund murder suicide –  as friends fall out

Williams and Mr. Pretorius were involved in a company called SA Superalloys. The company had stopped paying dividends earlier ………

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Former hedge fund boss in dividend dispute

5 Jul

Author:  Julius Cobbett

Publications: MoneyWeb

Date Published: 05 July 2012

Argument over unlisted pref shares failing to pay their 15% coupon.

A war of words has erupted over the failure of unlisted public company SA Superalloys to pay dividends on its preference shares. The shares were sold to various investors by Herman Pretorius, who recently featured on Moneyweb for his unorthodox investment vehicle, the Relative Value Arbitrage Fund (RVAF).

In the article, Moneyweb noted that the RVAF had reported consistent returns of about 20% a year for the past five years, but that there is no obvious way to verify this performance. The RVAF does not appear to have an auditor or third party administrator, and Pretorius is not licenced with the FSB.

Many of the RVAF’s investors also hold preference shares in SA Superalloys. There are about 500 preference shareholders, mostly from Cape-based farming communities, who have invested roughly R140m into SA Superalloys.

Moneyweb can reveal that Herman Pretorius has personally lent about R40m to SA Superalloys so that it could afford to pay generous dividends to its preference shareholders.

However, the dividends ran dry this year, which has sparked some unhappiness among investors.

The SA Superalloys shares were sold by Pretorius and brokers affiliated to him as far back as 2006.

SA Superalloys is a 55% shareholder in Avalloy, a Pelindaba-based manufacturer of special alloys for, among others, the aerospace and power turbine industries.

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SASUPERALLOYS – Letter to Pref Shareholders

1 Jun

Letter to Pref Shareholders