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Question NW3683 to the Minister of Public Enterprises

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02 January 2018 - NW3683

Profile picture: Mazzone, Ms NW

Mazzone, Ms NW to ask the Minister of Public Enterprises

Whether (a) Transnet and/or (b) Denel SOC Ltd (i) concluded any contracts with and/or (ii) made any payments to certain companies (names furnished) since 1 April 2009; if so, in each case, what are the details of the (aa) contracts conclude and/or payments made, (bb) amounts of each contract and/or payment and (cc) authorizing person(s)?

Reply:

DENEL SOC LIMITED

(a)

Not applicable

(bb)

(i) and (ii)
 

DETAILS OF THE CONTRACTS CONCLUDED and/or

PAYMENTS MADE

(aaa)

AMOUNTS OF EACH CONTRACT and/or PAYMENT

(bbb)

AUTHORISING PERSON(S)

(ccc)
 

Appointment of Regiments Capital as capital raising advisors in 2012
  1. Contract Amount:

R 300 000 000

  1. Capital Raised:

R 290 000 000

  1. Fees Paid:

R 2 900 000

Mr Riaz Saloojee as Group CEO
 

Appointment of Regiments Capital as facilitators of African Trade in 2013

2% would be charged for any acceptable finance or funding solution on Africa transactions. No payments have been made.

Mr Zwelakhe Ntshepe as Group Executive: Business Development
 

Conclusion of a Fund Raising Contract with Regiments in 2015
  1. Contract Amount:

R1 000 000 000

  1. Capital Raised:

R 400 000 000

  1. Fees Paid:

R 4 000 000

Mr Zwelakhe Ntshepe as Acting Group CEO

TRANSNET SOC LIMITED

Reply (with reference to Transnet):

PQ 3683 reference
 

(aa)

(bb)
 

Trillian Capital Partners

Regiments Capital

(1) (a) (i)

Whether we concluded any contracts with?

No

Yes

(1) (a) (ii)

Made any payments to?

Yes

Yes

(aaa)

What are the details of the contracts concluded and/or payments made?

Ceeded Contracts

  • General Freight Business –


By way of a letter issued by Regiments to Transnet on 15 March 2106, Regiments authorised Trillian to execute the work and services relating to this contract on its behalf w.e.f. 1 March 2016.

Direct Contracts

  • General Freight Business -
    Contracted Regiments Capital for the Provision of Professional Services to support Transnet SOC Ltd in increasing General Freight Business with a breakthrough to reach planned volumes for financial years 2015/2016 and 2016/2017 for R375 million

    Contract period was from May 2015 to May 2017 but was terminated early in November 2016 by the Board of Directors.

Ceeded Contracts

  • Transaction Advisory Servises

Cession from McKinsey Inc with effect from April- 2014. Cession between McKinsey Inc and Regiments Capital whereby McKinsey handed over all rights, obligations and deliverables over to Regiments, now recognising Regiments as the principal lead for the contract in its entirety.

Subcontractor to a Transnet supplier

  • Regiments was a sub-contractor to Mckinsey and a number of contracts that Transnet had with Mckinsey

PQ 3683 reference
 

(aa)

(bb)
 

Trillian Capital Partners

Regiments Capital

(bbb)

Amounts of each contract and/or payment

R67m

R55984m

(ccc)

Authorising person(s)?

The transactions were approved following the approved Transnet policies and processes and in terms of the Transnet approved Delegation of Authority.

Depending on the Delegation of Authority:

  1. Acquisition Disposal Committee or
  1. Group Chief Executive

 

   

Remarks:

   

Reply: Approved / Not Approved
       

Mr Mogokare Richard Seleke

  

Ms Lynne Brown, MP

    

Director-General

    

Minister of Public Enterprises

Date:

    

Date:

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