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EOH HOLDINGS LIMITED - Update on the EOH investigations, including webcast invite and further cautionary announcement

Release Date: 16/07/2019 07:05
Code(s): EOH     PDF:  
 
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Update on the EOH investigations, including webcast invite and further cautionary announcement

EOH HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1998/014669/06)
JSE share code: EOH ISIN: ZAE000071072
("EOH" or "the Company")


UPDATE ON THE EOH INVESTIGATIONS, INCLUDING WEBCAST INVITE AND FURTHER CAUTIONARY ANNOUNCEMENT


Shareholders are referred to the initial cautionary announcement released on SENS on 19 February 2019 and
the further cautionary announcements released on 3 April 2019, 21 May 2019 and 3 July 2019, respectively.

Following submission of a forensic report and its recommendations to the board of directors of EOH (the
"Board"), the Board has assessed the findings of the ENSafrica report ("ENS Report") and has prepared an
interim update on the forensic investigation ("Interim Update"). The Interim Update is available on the
Company's website at https://www.eoh.co.za/media-room/ and a webcast will be hosted by the Company at
09h00 on Tuesday, 16 July 2019. Interested parties are requested to register their attendance
at http://themediaframe.eu/links/eoh190606.html.

To date, the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing
at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which
are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited
number of EOH employees. Suspicious transactions of R1.2 billion have been identified and are being
investigated by ENSafrica. The exact nature of each of these transactions has not as yet been verified and may
relate to legitimate transactions, theft or bribery and corruption payments.

ENSafrica will provide the Company with bi-monthly updates which will in turn inform areas for further
investigation and remedial work. EOH will continue to assess the financial impact of the findings.

Accordingly, shareholders are advised to continue to exercise caution when dealing in the Company's
securities until a further announcement is made.

16 July 2019


Sponsor

Java Capital

Date: 16/07/2019 07:05:00
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