{"id":94805,"date":"2014-01-14T14:51:26","date_gmt":"2014-01-14T12:51:26","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=94805"},"modified":"2014-01-14T15:02:18","modified_gmt":"2014-01-14T13:02:18","slug":"telkom-asks-cfo-to-pay-back-loan","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/telecoms\/94805-telkom-asks-cfo-to-pay-back-loan.html","title":{"rendered":"Telkom tells CFO to pay back loan"},"content":{"rendered":"

Jacques Schindehutte<\/a>, the suspended chief financial officer at Telkom<\/a>, is set to pay back a R5.96 million\u00a0loan awarded to him by the\u00a0company\u00a0in September 2013.<\/p>\n

The\u00a0company\u00a0admitted in November that the loan made to such an executive \u201cmay not have been in compliance with the provisions of the companies act\u201d.<\/p>\n

Telkom said in a statement on Tuesday:<\/strong><\/p>\n

\u201cThe loan to Telkom\u2019s CFO, Mr Jacques Schindeh\u00fctte, was granted in a manner that was inconsistent with the provisions of the Companies Act, making the transaction null and void. The board cannot and did not ratify the granting of the loan.<\/p>\n

\u201cTelkom therefore has an obligation to claim the loan back in order to rectify the situation.<\/p>\n

\u201cBy virtue of his position as CFO of Telkom, Mr Schindeh\u00fctte has oversight responsibility for compliance and corporate governance, including for the regulatory and\/or administrative processes relating to the provision of loans to directors at Telkom.<\/p>\n

\u201cHe was actively involved in the processing of this loan and personally oversaw the advancement of the payment of the loan amount to himself.<\/p>\n

\u201cAs a director of the company, and having now been advised that the loan was void, the CFO has a fiduciary duty to repay the loan to the company. We are confident that Mr Schindeh\u00fctte will act in the best interests of the Company and repay the loan.\u201d<\/p><\/blockquote>\n

Telkom\u00a0announced on 24 October 2013 that Schindehutte was suspended pending a disciplinary process.<\/p>\n

The group said that\u00a0his suspension \u201crelates to allegations of personal misconduct leveled against Mr Schindeh\u00fctte and which came to the Board\u2019s attention through a whistleblower\u201d.<\/p>\n

It is not yet clear when the\u00a0disciplinary process against Schindehutte will be completed.<\/p>\n

More on Telkom<\/h3>\n

R6 million Schindehutte loan could be illegal<\/strong><\/a><\/p>\n

Truth behind Telkom CFO suspension<\/a><\/strong><\/p>\n

Telkom CFO suspension \u2013 more info<\/strong><\/a><\/p>\n

Mystery surrounds Telkom CFO suspension<\/strong><\/a><\/p>\n

Telkom CFO Jacques Schindehutte suspended<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Jacques Schindehutte, the suspended chief financial officer at Telkom, is set to pay back a R5.96 million loan awarded to him by the company in September 2013.<\/p>\n","protected":false},"author":23,"featured_media":90033,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[3],"tags":[36,1699,109],"class_list":["post-94805","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecoms","tag-active","tag-jacques-schindehutte","tag-telkom"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/94805"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=94805"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/94805\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/90033"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=94805"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=94805"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=94805"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}