NOT LOOKING ANY BETTER
Eqstra issued a very rough-looking trading update with HEPS expected to be 32%-42% lower as it gets hit R135m through industrial action. Eqstra wrote down its Protech stake of 32.8% to zero (it had been carried at R64m). The company mentions that it is engaging with a business rescue practitioner to see how it can protect this investment. Anyone still holding the now-suspended Protech shares should follow suit and write down the value of that holding to zero. Anything you get down the line should be considered a bonus and this will likely only happen after a long wait.