NCA
NCA
New Corpcapital - Report on Corpcapital
New Corpcapital Limited
(Incorporated in the Republic of South Africa)
(Registration number 2001/006539/06)
Share code: NCA & ISIN: ZAE000067765
("New Corpcapital")
REPORT ON CORPCAPITAL
The report by the inspectors into the affairs of Corpcapital has been handed to
the Registrar of Companies and to New Corpcapital. The report is available to
the shareholders of Corpcapital from the Registrar. The Minister is yet to make
a decision regarding the wider publication of the report.
The Minister has publicly stated that "in essence the findings of the Inspectors
is that there was no financial irregularity in the manner in which Corpcapital
has conducted its business".
The Inspectors conducted a lengthy and exhaustive investigation. The High Court
found that the Inspectors acted in a "dedicated and comprehensive manner" in
conducting the investigation and producing their report.
It is abundantly clear that Mr. Frangos has been seriously misdirected in his
accusations from the start. Taxpayers" money and shareholders" funds have been
wasted. The innocence of Corpcapital and its representatives has been
convincingly and repeatedly proven.
The board of New Corpcapital believes that it is not in the interests of the
company to waste any further resources or time joining issue with Mr. Frangos.
28 November 2006
Date: 28/11/2006 04:49:02 PM Produced by the JSE SENS Department
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