Independent Media sets the record straight on JSE listing

Published 17 April 2018, by Independent Media 

Independent Media is one of the most influential media companies on the African continent, with a stable of well-known credible brands supported by thousands of South Africans and commercial partners.

The company is the largest black-owned and managed media house in South Africa with a broad base of stakeholders including the Sekunjalo Independent Media(SIM) consortium (inclusive of several diversified entities such as trade unions and civil society groups), Interacom (China International Television Corporation and China-Africa Development Fund) and the Public Investment Corporation (PIC).

Independent Media, through SIM, was included in the plans of Sagarmatha Technologies, to form part of the multi-sided platform (MSP) technology company’s ecosystem which was to list on the JSE last week.  The details of the transaction and all related information were included, with full transparency, in the pre-listing statement (PLS) which was approved by the JSE.

In the weeks leading up to the listing, certain opposition media companies embarked on a disinformation campaign against Independent Media in an attempt to scupper the listing.   Snippets of information, contained in the 212-page PLS, were extracted and represented as an “exposé”, in an attempt to mislead the public and create a picture of wrongdoing and to cast suspicion on some of the people and companies involved in Sagarmatha Technologies.

 

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