Visit our COVID-19 site for latest information regarding how we can support you. For up to date information about the pandemic visit www.sacoronavirus.co.za.

bs-regular
bs-extra-light
bs-light
bs-light
bs-cond-light-webfont
bs-medium
bs-bold
bs-black

Community


Share knowledge. Ask questions. Find answers.

Online Share Trading

Engage and learn about markets and trading online

TKG confusion

Reply
keng
Contributor
For the life of me I cannot understand the reason for Telkom being hit SO hard. Suspending the CFO is of concern but he is replaceable and isn't involved in day to day operations. Let's say he did have the confidential info, and knew the trading statement results were good. He wouldn't buy if he thought the price would drop. How about the old pump and dump? Well he couldn't do that as he can't sell his shares until after the closed period. So that makes no sense. So yes there 'may' be a case for insider trading but why the overkill on the price. Maybe the general public believes that insider trading is very rare :-)
0 Kudos
7 REPLIES 7
SimonPB
Valued Contributor
suspending a board member is never good, especially the CFO .. and the theory that it involves his share purchases is just a theory and not confirmed by anybody
0 Kudos
keng
Contributor
Simon Correct the actual reason for suspension isn't clear. It may turn out to be something else. Admittedly one can sometimes put 1 and 1 together and end up with 3. However, "IF" it's not about shares, then why go to FSB via JSE as opposed to FSB directly? I think what I'm trying to understand is what influenced that share price more was it the positive trading statement or the fact that the CFO purchase a LARGE number of shares? Anyway it will all eventually come out after the hearing.
0 Kudos
keng
Contributor
“There is no connection whatsoever between the suspension of Mr. Schindehutte and the insider trading enquiry instituted by the JSE in relation to Mr. Schindehtte's trade in Telkom shares,” the company said in a statement. “The suspension relates to allegations of personal misconduct leveled against Mr. Schindehutte and which came to the Board's attention through a whistleblower.”
0 Kudos
Rams
Super Contributor
health reasons, family commitments, insubordination,,,it all spin for corruption.
0 Kudos
SimonPB
Valued Contributor
keng, we now have clarity on the suspension .. but notwithstanding .. TKG didn't go to the JSE or the FSB, the JSE approached the FSB to investigate
0 Kudos
Rams
Super Contributor
Do we expect TKG to come out and say to shareholders , their CEO is suspected of insider trading.......keng, the share price went up because of the "good results"....the story goes that the CEO knew the results before buying the shares?I suppose a R20 million annual salary is just not enuf
0 Kudos
Rams
Super Contributor
and the pending announcement of the interconnection fees?
0 Kudos