Whether or not Hove’s argument makes it into court papers, it seems incongruous because the set of transactions that were meant to take place between Sagarmatha and SIM were conditional on the listing, which never happened. “One of the suspensive conditions of the agreement was the successful listing of Sagarmatha which ultimately never happened and therefore the agreement never became operational and lapsed,” said Matjila.
Like Survé’s controversial AYO Technology Solutions, Sagarmatha would have received billions from the PIC . Earlier this year ANA fired all its employees citing financial difficulties, but then mysteriously offered to rehire all of them less than a month later. Interacom has displaced the PIC as SIM’s major funder by lending it nearly R1bn.
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