Surve’s suggested valuation for Sagarmatha shot down by PIC | Business | M&G

Matjila’s testimony on Wednesday to the commission probing alleged impropriety at Africa’s largest asset manager, focused on the PIC’s transactions with companies in the Sekunjalo Group , which have come under the spotlight in recent years.

Matjila says there were various proposals regarding the listing price of Sagarmatha, including from Survé who suggested issuing a R1 strike option to the PIC in order to bring down the average entry share price closer to the R7,06 per share, as per the valuation by the PIC’s investment team. The former chief executive told the commission that contrary to media reports, his close personal relationship with businessman Iqbal Survé did not influence the PIC’s transactions with Sekunjalo.

Neither are worth anything!

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