S. African Bourse Seeks to Fine Steinhoff’s Ex-CEO $882,000
- Jooste has applied for order suspending JSE’s decisions
- JSE will continue to oppose Jooste’s application for review
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Johannesburg’s stock exchange plans to fine Steinhoff International Holdings NV former Chief Executive Officer Markus Jooste 15 million rand ($882,000) for violating listing rules and submitting false financial statements.
South Africa’s main stock exchange also barred Jooste from holding an office in a listed company for 20 years, according to a statement Tuesday. The move comes almost five years after the firm’s near collapse and is the second censure of a director at the company after former Chief Financial Officer Ben la Grange was fined 2 million rand.