Shares fall amid ‘thugs’ claim

Shares in Adapt IT plunged more than 10% yesterday after claims were published at the weekend that CEO Sbu Shabalala hired armed thugs to beat up the partner of his estranged wife, Neo.

They fell as much as 11.3% to R6.28. At the close of day, they were off 9.8% at R6.39 apiece, 11c below the offer to buy the company from Canada’s Volaris Group.