Closure of FSCA investigation on market abuse by NEPI Rockcastle

Posted On Thursday, 20 June 2019 08:38 Published by
Rate this item
(0 votes)

NEPI Rockcastle welcomes the conclusion of the investigation by the Financial Sector Conduct Authority (FSCA) relating to allegations of market abuse.

ALEX-MORAR

The FSCA announced today that it found no evidence that the share trades completed on NEPI Rockcastle by alleged related parties’ accounts contravened the Financial Markets Act relating to price manipulation. The FSCA has also announced that it has closed the investigation into the matter, which means there are no further unresolved investigations by the FSCA into the company.

The FSCA found that there was no substance in the allegations made that directors, related parties and other parties believed to be related to NEPI Rockcastle and other entities, were supporting the NEPI Rockcastle share price during the investigation period (1 October 2017 to 28 February 2018).

Alex Morar, NEPI Rockcastle CEO commented:

“We welcome the FSCA’s announcement and the conclusion of this remaining investigation. Although this was not an investigation into the Company’s affairs (as the Company hadn’t traded in its own shares), its closure reconfirms our position towards this matter. NEPI Rockcastle adheres to best practice in corporate governance. The conclusion of this matter allows us to continue to focus on our core business and generating long-term value for all our stakeholders.” – Alex Morar, CEO

Last modified on Thursday, 20 June 2019 08:44

Most Popular

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
 BRONWNY CORBETT
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

4AX listed Heartwood Properties reveals positive financial results

Sep 23, 2019
 JOHN WHALL
Commercial property development company, Heartwood Properties , has revealed a 30%…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 LESETJA KGANYAGO
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.