Phumelela welcomes court interdict

  • Bob Brogan
  • Topic Author
  • Administrator
  • Administrator
  • Posts: 82504
  • Thanks: 6458

Phumelela welcomes court interdict

5 years 10 months ago
#767701
SUBJECT: Phumelela welcomes court interdict
DATE: Wednesday 31 July 2019
RELEASED BY: Phumelela Gaming


Phumelela is pleased to announce that a court order was granted in favour of the company yesterday preventing Public Protector Busisiwe Mkhwebane’s remedial action on the horse racing industry from being implemented until the review process has been finalised.
The Public Protector did not oppose the urgent interdict application in the North Gauteng High Court.
“Although we are obviously pleased with yesterday’s ruling, Phumelela wishes to reiterate that the review process is still far from finalised,” said Phumelela CEO John Stuart.
“We maintain our stance that the company will not be giving further comment, issuing any statements, or participating in public debates detailing the ongoing review process until such time as the legal proceedings have been finalised.
“The matter is now before the courts and we feel it would be inappropriate to pre-empt the proceedings, as the final outcome could have a material effect on the company.
“We have complete faith in the judiciary and trust that the courts will deliver the correct verdicts.”

Please Log in or Create an account to join the conversation.

  • Over the Air
  • Platinum Member
  • Platinum Member
  • Posts: 2948
  • Thanks: 721

Re: Phumelela welcomes court interdict

5 years 10 months ago
#767724
Many issues out there and this interdict not going to save Phumelela. The market reacted by the share ending on 200 - this is 86% down from a year ago. I truly hope that people that were duped into this "oreferential" share got out when I started calling the collapse - at that stage the share was above 1200.

Please Log in or Create an account to join the conversation.

Time to create page: 0.090 seconds

Contact Details

Main Office (HQ)
PO Box 40390
Moreleta Park
Pretoria
0044
+27 (0) 82 785 4357
info@africanbettingclan.com

About A.B.C.

African Betting Clan is established for the upliftment of the sports punter, who enjoys a bet on horse racing, football and other sports, enabling them to voice their views and opinions on all aspects of the sport of their choice, free of charge.

Learn More

T's & C's

The views expressed on this website are not necessarily the views held by the proprietors of the site. Therefore African Betting Clan will not be responsible for any content posted. No persons under the age of 18 years are permitted to gamble. National Responsible Gambling Programme and its toll-free number (0800 006 008)