IT IS NOT THE LIE THAT BOTHERS ME. IT’S THE INSULT TO MY INTELLIGENCE I FIND OFFENSIVE.

With acknowledgement that the company is and was in fact a corporate structure with divisions and a business strategy, lacking governance, management and ethical standards

as per George Manyere, “the business model was high on liability generation and weak on asset allocation”, although most assets acquired were directly affiliated with George Manyere.

One of the benefits that the company enjoys as a result of its separate “Juristic Personality”, is limited liability. All directors are somewhat protected and can ‘hide’ behind the company, acting as it’s altered “ego”. The actions of the directors are seen as the actions as those of the company. However, it should be noted as a juristic person, the company cannot form any intent to commit an act, criminal or civil. This is because does not have a mind of its own. The company is represented as a juristic person, not a natural person with a mind nor conscience.

When those directors holding all the power are themselves the wrongdoers toward the company and the preference shareholders, the remedy to rectify the situation is almost impossible. Should a board meeting be held, they will not authorise proceedings to be taken by the company against themselves. Should a general meeting be called, they will vote down any suggestion that the company should sue them. Yet the company is the one person who is damnified.

Preference Shares, are mandatorily redeemable on a specific date… The Preference Shares are Redeemable after 60 months from the initial issue date and as a result are classified as debt and disclosed as such in the statement of financial position. Preference Shares, which are mandatorily redeemable on a specific date, are classified as liabilities.

Clear examples of “Reckless Trading” are defined as concealing or disguising the nature, source, location, disposition or movement of the said property or the ownership thereof or any interest which anyone may have in respect thereof.

Borrowing powers financials of 2018 In terms of the Memorandum of Incorporation of , the directors may exercise all the powers of to borrow money, as they consider appropriate, subject to the delegation of authority approved by the Board. The Board has passed a resolution to limit the Group borrowings to R500 million, excluding the liabilities related to the R5bn preference share programme, and provided the shareholders with written notice thereof.

“THE COMPANY FINANCIAL HOLDINGS” (Registration Number 2020/017 637) a Shelf Company registered on the 14th January 2020, a Shelf Company who in less than 2 months in operation made a loss of R626 628 383 million. *** never mentioned on the SENS documents, first time ever on the 2020/2021 Balance Sheets we have searched B2B –Located them under Ecs Financial Holdings and not as ESCPONENT FINANCIAL HOLDINGS 100% Owned according to Balance Sheet by the company, Losses for 2020/21 R1 123 104 926

A dormant company never ever appearing anywhere but to make major losses during the same time they collapse the “Preference Share” program

Afreximbank: 18th February 2019. Sens Document -The board of directors of is pleased to announce that has concluded a term sheet with the African Export-Import Bank (“Afreximbank”) for a R700 million dual-tranche medium-term loan facility. This concluded loan has yet to be incorporated into the financial reporting.

TO CONVERT OR NOT TO CONVERT – WHAT DOES THE LAW SAY: 

The requirement to obtain SARB approval depends on if the debt pertains to cross-boarder loan.

Did the company take cross-boarder loan and record this as new company with a debt stressed book?

Why has the cross-border debt of (“Afreximbank”) never disclosed to investors or the authorities?