Tag: karl givers
Omnia responds to Benguela's allegations.
As Omnia’s shareholders approve restructuring plan, here’s why Benguela was advising clients to dump the stock
Benguela Global Fund Managers say that Omnia’s rising debt levels and balloon working capital requirements were among the reason they advised clients to dump the stock. Having sold out of Omnia at R68 a share, the fund managers are now alleging the management is destructing shareholder and a lack of adherence to ESG standards. CNBC Africa’s Karabo Letlhatlha sat down with Karl Givers, Head of Research, Benguela Global Fund Managers.