SA OR­GAN­ICS

Finweek English Edition - - Cover -

POS­SI­BLY THE MOST elab­o­rate of the projects ped­dled by the old Pres­tige Ven­tures, this wannabe waste man­age­ment com­pany split into two en­ti­ties – one of which, Irma En­vi­rotec, was ac­tu­ally listed on the mez­za­nine board of the Ber­muda Stock Ex­change.

SA Or­gan­ics ini­tially cre­ated quite a stir with claims it owned a waste man­age­ment de­vice that used “black hole” tech­nol­ogy. It also claimed mul­ti­mil­lion US dol­lar con­tracts with off­shore par­ties were in the pipe­line – most notably with a Bel­gian pig farmer (no kid­ding) by the name of Ludo Dobbels.

SA Or­gan­ics dis­ap­peared without de­liv­er­ing on its fan­ci­ful prom­ises – but not be­fore milk­ing pub­lic share­hold­ers for a few mil­lion rand. Irma En­vi­rotec spent a few years in limbo on the BSX (with not a sin­gle share traded) be­fore hav­ing its list­ing ter­mi­nated af­ter not pay­ing its ex­change-re­lated fees.

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