Author Topic: Avoiding Sagarmatha Technologies private placement  (Read 4949 times)

rjthomas

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Avoiding Sagarmatha Technologies private placement
« on: April 10, 2018, 10:32:25 pm »
After reading that Jim Rogers is a consultant on Iqbal Survé's new venture, I've lost all respect for him. Business Day ripped them to pieces and I quote the introduction here...

The full extent of the destruction at Independent Media since the Public Investment Corporation (PIC) placed the company at the disposal of Iqbal Survé has been laid bare — ironically through Survé’s outrageous attempt to use other people’s money to plug the R2.3bn hole in his media balance sheet.

On March 28, a company 73% owned by Survé’s family trust issued a remarkable "prelisting statement" inviting selected investors to subscribe for a "private placement" of shares ahead of a planned JSE listing. The company is Sagarmatha Technologies, a grandiose reference to the Nepali name for Mount Everest, and the statement represents a desperate bid to portray it as a hi-tech start-up in the mould of an African Google or Amazon.


read the details here...
South African working in China since 2012

Patrick

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Re: Avoiding Sagarmatha Technologies private placement
« Reply #1 on: April 11, 2018, 09:30:30 am »
AmaBhungane did great work on this too. To summarise it's a total scam and all you'll be doing is handing over money directly to Survé and his relatives.

http://amabhungane.co.za/article/2018-04-08-iqbal-surves-mythical-beast

gcr

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Re: Avoiding Sagarmatha Technologies private placement
« Reply #2 on: April 11, 2018, 02:12:03 pm »
AmaBhungane did great work on this too. To summarise it's a total scam and all you'll be doing is handing over money directly to Survé and his relatives.

http://amabhungane.co.za/article/2018-04-08-iqbal-surves-mythical-beast
What is more disconcerting is that the PIC and the trade unions are saying this is a great deal - can't understand why the employees of government aren't instructing PIC to disassociate from what looks like a Ponzi scheme
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