Core Holdings director Kathy Fielding has left the country and her company has been suspended from the JSE. Fielding apparently left the country with her husband, David Allen, after failing to appear before the 417 inquiry into the liquidation of Core subsidiary Redsand Interactive.
The commissioner in charge of the inquiry has instructed that criminal charges be laid against the pair for contravention of the Companies Act. The couple are to be charged for failing to appear before the 417 inquiry, in contravention of a summons. MoneyWeb reports that the couple is believed to have left for the US.
Wolfgang Striebeck, Dynamic Services Group MD, confirmed the couple had left the country, saying "there were quite a few things that surfaced at the inquiry which is probably the reason they left". Striebeck formed DSG in March this year following a walkout by himself and a number of other Core staff members, citing "disappointment with the group`s various management decisions". He also says he instituted legal action against the company.
In related developments, the JSE announced yesterday that it had suspended Core Holdings from the JSE with immediate effect.
Wayne Morris, Core Holdings non-executive financial director, could not be reached for comment this morning.
Core Holdings is the organiser of the Comdex exhibition. The show, which was originally scheduled for mid-September at Gallagher Estate, has apparently been postponed although no formal announcement had been made, according to Striebeck. Gallagher Estate management confirms that the booking for Comdex has been cancelled and says it would possibly be held next year. However, the Web site for International Fairs and Exhibitions, a Core subsidiary, still says the show is scheduled for 11 September.
Companies listed on the site as exhibitors are unsure of the status of the show. Striebeck says many of the exhibitors that have paid a deposit have not been refunded despite the uncertainty of the exhibition going ahead.
Representatives of both Core Holdings and International Fairs and Exhibitions could not be reached for comment.
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