Moneyweb
A former director of several JSE listed companies, Thabi Leoka, has been censured by the Johannesuburg Stock Exchange and given a hefty fine after failing to provide proof of her PhD qualification.
Leoka was an independent non-executive director of Remgro Limited, Netcare Limited, and Anglo-American Platinum Limited. She has since resigned as a director from these companies.
In a SENS announcement on Friday, the JSE issued “a public censure” and fined Leoka a whopping R500 000.
She was also immediately disqualified from holding the office of a director, or officer of a company listed on the JSE for a period of five years.
The action against the economist was taken after the Daily Maverick published a report stating that her claim to have a PhD in Economic from the London School of Economics and Political Sciences obtained in 2008, were “a figment of her imagination”.
The JSE said in the wake of the article, it had engaged Leoka on the allegations.
The Bourse said despite numerous opportunities afforded to Leoka to provide substantive proof that she does hold a PhD qualification, she had failed to do so.
“Ms. Leoka’s conduct in making false statements in her Schedule 13 declarations was exacerbated by her refusal to acknowledge or engage with regulatory correspondences, or to cooperate with the JSE’s investigation," the statement said.
