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EOH Holdings plans to sell a further R1-billion of non-core businesses in 2020 as it reorganises and reduces debt.
EOH Holdings published an update on the investigation into suspicious transactions at the company alongside its annual results for the year ended 31 July 2019.
Technology company EOH said that losses widened for the year ended July 2019 as it comes to terms with the findings of an ongoing forensic investigation into corruption at the group.
EOH has blacklisted 50 “enterprise development” partners and intermediaries and reported suspected criminal behaviour to authorities for investigation and possible prosecution as it continues a clean-up of its operations.
EOH Holdings informed its shareholders in a statement on Friday that the company’s black empowerment partner, Lebashe Investment Group, will not subscribe for a further R250-million tranche in the company.
EOH Holdings’ new black empowerment partner, Lebashe Investment Group, has said it won’t subscribe for a R250-million third and final tranche of a planned R1-billion investment in the JSE-listed technology group.
EOH has been accused of ignoring calls for an independent investigation into a subsidiary company, Healthshare Health Solutions, which is accused of sabotaging a client’s business.
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