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EOH’s Van Coller hires legal firm for internal investigation

The technology company is seeking to improve governance under new CEO Stephen van Coller.

South Africa’s EOH said it has hired a legal firm to carry out an internal investigation as the technology company seeks to improve governance under new Chief Executive Officer Stephen van Coller.

This comes as EOH faces losing two partner agreements with Microsoft Corp.’s South African unit within the next 30 days. EOH will meet with Microsoft Tuesday evening to discuss the matter, Van Coller said in a phone interview on Tuesday.

Read: EOH shares plunge 29% after Microsoft termination

EOH plunged 30% to R18.59 as of 10:34 am in Johannesburg, the most since December 2017.

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Since the Steinhoff (everything is Hunky Dory) episode, the investors are taking no chances. EOH used the same expansion tactics as Steinhoff. Expanding the business with expensive script.

Surely there will be many disgruntled (Tekkie Town) type owners sitting with worthless EOH script.

The new management team has to be wondering what they are actually working with compared to hype that once existed around this IT “leader”. Gubbins and Bohbot were arrogant in the extreme in running around town making offers on the back of overpriced scrip to any company with an “i” in the name, offering or logo. Sadly some superb businesses run by great entrepreneurs will cease to exist due to their mad buying sprees and some questionable partners with no ethics brought on-board. Despite numerous approaches ducked this bullet when I called this mess 6 years ago and witnessed the arrogance first hand. They should be fixing their mess and actually operating this business (but they don’t have the skill) not running around town chasing the next transaction after having cashed out other people’s hard work.

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