NEPI Rockcastle had another R9 billion wiped off its value on Wednesday after short-sellers Viceroy Research accused it of overstating its profit.
Viceroy says NEPI’s Romanian subsidiaries made a loss of €41 million in 2017.
NEPI reported a €284.8 million profit.
On Wednesday, The Money Show’s Bruce Whitfield interviewed Gabriel Bernarde of Viceroy Research.
Click or tap here for that interview.
On Thursday, Whitfield again interviewed Bernarde and also got Alex Morar, CEO at NEPI Rockcastle, to weigh in.
Listen to the interviews in the audio below (and/or scroll down for quotes from it).
NEPI Rockcastle is over 11 years old. We’ve complied with the rules of a number of regulated stock exchanges… This entity called ‘Viceroy’… they provide a Gmail account!— Alex Morar, NEPI Rockcastle
A mix of fact and fiction… unfortunately in our world perception is key…— Alex Morar, NEPI Rockcastle
Our operation isn’t in any way vulnerable to the likes of Viceroy.— Alex Morar, NEPI Rockcastle
They [Viceroy Research] are not regulated by anybody… We don’t even know who Viceroy is… We don’t have anybody to point a finger to or challenge in any way…— Alex Morar, NEPI Rockcastle
A number of things don’t stack up… We’ll answer their rebuttal in due course…— Gabriel Bernarde, Viceroy Research
Why such an amazingly low tax rate?— Gabriel Bernarde, Viceroy Research
We haven’t taken any profit. We are convinced there is something materially wrong… Surely you want clarity?— Gabriel Bernarde, Viceroy Research
You can go through our reports. We published all our data.— Gabriel Bernarde, Viceroy Research
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator founder Pavlo Phitidis.
The Money Show’s Bruce Whitfield interviews Jabu Mabuza, Chairperson at Eskom, and plays an audio clip of Minister Pravin Gordhan.
Time. It’s the most important factor, says Sam Beckbessinger, author of “Manage Your Money like a F*cking Grownup”.
Bruce Whitfield interviews Mohsin Tajbhai (GPI), Ricco Friedrich (Denker Capital) and Wilhelm Hertzog (Rozendal Partners).
It wants Govt to take on the debt as part of a turnaround plan to shore up its balance sheet, says spokesperson Khulu Phasiwe.
Viceroy Research accuses NEPI Rockcastle of overstating its profits. Bruce Whitfield interviews Gabriel Bernarde (Viceroy).
Khabazela shares tweets and Facebook posts that have gone viral.
A Knysna couple who cycled 20 000 Km across 20 countries finally arrived in Cape Town on Sunday ending their 18 months journey.
Dr Eve says that sex toys help close the frustrating orgasm gap and can increase intimacy and connection, alone or with a partner.
Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.
Saru has partnered with Asics to create a special Blitzbokke jersey to celebrate Nelson Mandela’s 100th birthday.
The Clothing Bank gives women access to discounted merchandise and 500 hours of training in money management and business skills.