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Phuthuma Nathi

South Africa

Consumer complaints and reviews about Phuthuma Nathi

Herman Charles Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

I submitted a complaint to phuthumanathi@singular.co.za on 9th December 2011 and suggest you do the same. What Phuthumanathi is doing with this 2nd lock in period(JSE BEE) must be illegal and if there are enough waves some one will have to answer for it. Here follow my letter: "Dear Sir/Madam, I wish to express my disappointment in the way trading is happenning. Our share VALUE of R50(R10 initial cost to share holder, plus R40 initial cost to you) ; your communication goes as if people are making a profit(anything beyond R10) whereas it is a shocking loss! Many of us had our money locked up for 5 years with the foresight of making a minimum profit of 400% and entrance to the investment platform (being empowered to make profitable financial choices). Locking us out of trading on the open market, you are disempowering the masses again by controlling and trapping in trade within the BEE setting; thus keeping the share price 'discounted 'to quote the Multochoice CEO, allowing fat cats to bully the marginilised into giving their shares away at half its original value, not even comparing it to its open market counterpart.You are locking people up into another kind of apartheid in the process of satisfying your gvt required BEE share holder percentage. Please enlighten me with better insight than what I am currently making of this 2nd lock in period."
1508052379 Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

When we bought shares from Phuthuma Nathi in 2006 we thought it was a good thing because it was some kind of investment.I received a letter informing me that i could trade my shares on the 08/12/2011.I've been trying since yesterday to call on this famous number 0860 116 226 which i'm sure everybody including myself is questioning what the legal implications are about Phuthuma Nathi.Why are they all dugging and diving. It seems like nobody knows anything about the business.People are getting very annoyed by the the machine that keeps on repeating the same thing over and over.Why can't people just be honest and tell us what is really going on, come out and tell us straight in our faces if we made a big mistake in purchasing shares from the scheme and that it was a hoax of which you benefited millions from that is why we can't get any straight answers from anybody.S.A has become a country where all the wealthy people get richer by stealing from the poor and they are bold faced liars.We need answers because this is our hard earned money and i don't think i'll ever invest in Phuthuma Nathi ever again.Just give us what you owe us.From concerned shareholder. 09 December 2011 .
Concern Shareholder Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

Hi Shareholder
My gud feeling was not wrong. The whole Phuthuma Nathi lock out period is a flop. I had no confidence in the CEO in the first instance. He is more worried about his scorecard and not empowering the disadvantage.He never consult the shareholders on the model he implement to sell and buy the shares over the counter. He is arrogant or not computer literate, because he do not answer personally. How on earth must we ordinary people know how to determine our own share price. Where will buyers come from. There is so many companies that will isue BEE shares. This share is nothing worth, because it is not listed. He will sit for years with R9, 8b in the account and nothing will happen. He is one those. But as it work in South Africa he must be there. May God BLESS his bladdy holiday.
Evans Msiza Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

I bought phuthuma nathi shares in 2006 december and would like to hear from you as to how to check and sell my shares' worth and so on. ever since i bought shares i have never claimed divided can you please also update me on that.
another thing i can't remember my password. i am looking forward to your swift response. my email address is (evansmsiza38@gmail.com)
Kenny Joe Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

Mr CEO we as Shareholders are very concern the way y0u people operate. You are not on the same level as the man that just bought 20 shares. This is the ordinary man ont he street like me. We dont want anything to do with buying on selling shares over the counter. We just want our money at 8Secmber2011. You will go on holiday and nowhere to find. Your costumercare Operators are so poorly informed. So we will walk the Sasol route where share is nothing worth, and no buyers. Please proof me wrong.
Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

The Naspers Group has awarded the contract to trace shareholders to TSP (shareholders partnership) to claim ordinary shares under the Phuthuma Nathi shares scheme. They have not made any attempts themselves to get hold of the shareholders, but grant TSP the right to claim 15% admin fee to award the cash benefits from the above scheme. This is not fair and needs to be investigated.
I have applied for the shares to be dematerialised, but have not heard from Naspers.
Ramo103 Send email
 
Feb 23, 2012

BEE shares - Phuthuma Nathi

Hi Guys,
I am trying to discover what progress is being made with regards to my Phuthuma Nathi shares.

I am afraid we all might end up losing money like the SASOL share scheme
The Sasol shares was initially bought at R350.00
However it is now trading at R260.00 on the JSE BBE trading platform.
(lock in period was 3 years and now black share holders are losing +/-R100.00 on each share they trade.
Very few shares are traded on the JSE BEE platform whilst the SASOL shares on the open market are trading by the thousands per day.

It is common knowledge that the average South African does not trade on the JSE. A vast majority of them will get a broker to sell shares for them and therefore the tiny black elite will be waiting to scoop up these shares at massive discounts. I don't think this is empowering the black mass people. It is more like empowering the tiny black elite.

When the BEE scheme was announced we knew that the lock in period was 5 years.
Five years have come and is almost gone, shouldn't we have had another plan in place by now or at least 10 months ago. (When the shares can be openly traded)?

A GREAT example was the MTN share scheme we had a few years ago. (I think it was Ashonge) It was open and transparent and we could trade the shares at competitive prices on the JSE after the lock in period.

My fear now is for all those that purchased media 24 shares. Company is not doing so well and listing these shares on the JSE under the BEE banner will result in thousands of black investors losing more money.

I have searched on numerous websites tried forums, telephoned around including the 0860116 226 number but to no avail.
Not even the staff manning the above number could provide me with the questions I tabulate below.

The closest I came to finding any information was the info below.
MultiChoice SA group executive chairperson Nolo Letele ¬confirmed that the print and ¬electronic media firm was ¬exploring options of listing its BEE shares on the JSE.
http://www.fin24.com/Companies/Industrial/BEE-shares-More-firms-to-follow-Sasol-20110206

It is long overdue that the guys at the top should provide information:
1. What is going to happen to our shares come the 8 December 2011
2. Have the general public (120 000 share holders) participated in any of the decision making.
3. What progress have been made if any
4. And why was stake holders not notified.


Regards
Omar
Email: webmaster@rebirth.co.za
PLEASE send this email out to everyone on Face Book, forums, twitter etc you know so that we can rally support and get some answers before we lose money.
You can send the info to my email then I can forward it on to one or all of M Langa, Letele Pacak or Volwyn at Multichoice.

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