THE Asonge share certificate you have kept locked in your safe might have an incorrectly captured account number and you will have to produce proof of payment to convince Computershare it's yours.
Come to think of it. I don't have my proof of payment either.
My bank statement showing the transaction of the large amount I withdrew on the day I bought the shares might not be enough since I later clubbed in with my family to buy more shares.
Job Tlhoaele has a certificate that looks legitimate and has compared his with mine and there are no distinctions. But he was required to produce proof of payment before he could redeem his R20000 worth of shares.
Tlhoaele bought three sets of shares in 2007 for R20000 each.
He bought one set for his father, who had deposited money into his account from Balfour on August 7 2007. His bank statement, in Consumer line's possession, shows a deposit of R20000 - his own set and his father's were bought on the same day. Three days later he bought a third set for L & J Social Club of which he was an affiliate, he said.
His bank statement shows a withdrawal of R40000 on the day he claimed he bought his and his father's sets.
He also has a statement showing a third withdrawal of R20000 he made from the L & J social Club he on August 10 when he bought the third set. He can cash his shares after producing a receipt he got from the post office where he bought his shares.
Tlhoaele's misery started in March when he tried to cash his investment.
He said he thought the woman who was helping him was joking when she told him his share certificate account number did not correspond with the shareholders details.
"I jokingly told her to fix the mixed match and give me my money," Tlhoaele said.
He said the teller insisted it belonged to someone in Soweto and it could only be fixed once he showed proof of purchase, which he no longer had.
"The only thing I could do was go to my bank and ask for statements showing the withdrawal of R60000 on two different dates in August 2007, which they also rejected as proof.
He said they referred him to the post office. where he had bought his shares, but could not get help.
"The post office could not help since it had had sent the invoices back to MTN who sold its shares to us," Tlhoaele said.
He said Computershare is the one at fault and he should not be made to run around like a headless chicken.
"They must fix their mess without causing me a headache and pay my money," he said.
Ursula du Plooy of Computershare said they had no records of Tlhoaele's having purchased further shares.
She said they had records of shares he bought in the name of a social club as well as those he bought for his father.
She said the account number reflected on the allocation statement had been incorrectly captured from the database.
"The correct account number appeared on the subsequent bi-annual statement the following year," Du Plooy said.
She said Tlhoaele provided them with a copy of his father's bank statement, which reflects his father's purchase, but does not provide proof of payment of his.
Yet Consumer Line sent Tlhoalele's bank statement to Computershare, showing a deposit of R20000 from Tloaele's father and a subsequent withdrawal of R40 000 he alleges he used to buy the two sets of shares.
"If Du Plooy can infer that the money my father deposited into my account was used to buy shares, why can't she use the same inference about the remaining R20000 I withdrew the same day?" asked Tlhoaele.
Du Plooy said once they received proof of the second purchase they would investigate.
She did not respond when asked if the certificate Tlhoaele produced and subsequent letters written to Tlhoaele by the Asonge chairperson and its CEO Philisiwe Buthelezi were forged.
"The letter she claims was sent a year later does not even say they were correcting their previous error if they had incorrectly captured the information," Tlhoaele said
The National Empowerment Fund is investigating the matter.
Vexing Asonge share mishap
THE Asonge share certificate you have kept locked in your safe might have an incorrectly captured account number and you will have to produce proof of payment to convince Computershare it's yours.
Come to think of it. I don't have my proof of payment either.
My bank statement showing the transaction of the large amount I withdrew on the day I bought the shares might not be enough since I later clubbed in with my family to buy more shares.
Job Tlhoaele has a certificate that looks legitimate and has compared his with mine and there are no distinctions. But he was required to produce proof of payment before he could redeem his R20000 worth of shares.
Tlhoaele bought three sets of shares in 2007 for R20000 each.
He bought one set for his father, who had deposited money into his account from Balfour on August 7 2007. His bank statement, in Consumer line's possession, shows a deposit of R20000 - his own set and his father's were bought on the same day. Three days later he bought a third set for L & J Social Club of which he was an affiliate, he said.
His bank statement shows a withdrawal of R40000 on the day he claimed he bought his and his father's sets.
He also has a statement showing a third withdrawal of R20000 he made from the L & J social Club he on August 10 when he bought the third set. He can cash his shares after producing a receipt he got from the post office where he bought his shares.
Tlhoaele's misery started in March when he tried to cash his investment.
He said he thought the woman who was helping him was joking when she told him his share certificate account number did not correspond with the shareholders details.
"I jokingly told her to fix the mixed match and give me my money," Tlhoaele said.
He said the teller insisted it belonged to someone in Soweto and it could only be fixed once he showed proof of purchase, which he no longer had.
"The only thing I could do was go to my bank and ask for statements showing the withdrawal of R60000 on two different dates in August 2007, which they also rejected as proof.
He said they referred him to the post office. where he had bought his shares, but could not get help.
"The post office could not help since it had had sent the invoices back to MTN who sold its shares to us," Tlhoaele said.
He said Computershare is the one at fault and he should not be made to run around like a headless chicken.
"They must fix their mess without causing me a headache and pay my money," he said.
Ursula du Plooy of Computershare said they had no records of Tlhoaele's having purchased further shares.
She said they had records of shares he bought in the name of a social club as well as those he bought for his father.
She said the account number reflected on the allocation statement had been incorrectly captured from the database.
"The correct account number appeared on the subsequent bi-annual statement the following year," Du Plooy said.
She said Tlhoaele provided them with a copy of his father's bank statement, which reflects his father's purchase, but does not provide proof of payment of his.
Yet Consumer Line sent Tlhoalele's bank statement to Computershare, showing a deposit of R20000 from Tloaele's father and a subsequent withdrawal of R40 000 he alleges he used to buy the two sets of shares.
"If Du Plooy can infer that the money my father deposited into my account was used to buy shares, why can't she use the same inference about the remaining R20000 I withdrew the same day?" asked Tlhoaele.
Du Plooy said once they received proof of the second purchase they would investigate.
She did not respond when asked if the certificate Tlhoaele produced and subsequent letters written to Tlhoaele by the Asonge chairperson and its CEO Philisiwe Buthelezi were forged.
"The letter she claims was sent a year later does not even say they were correcting their previous error if they had incorrectly captured the information," Tlhoaele said
The National Empowerment Fund is investigating the matter.
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