Manyi reveals he's sole shareholder of firm that bought ANN7, New Age
30 August 2017
Johannesburg - Mzwanele Manyi, sole owner of the company that bought Gupta-owned media units ANN7 and The New Age, said on Wednesday he decided to disclose the shareholding to be transparent and show good governance.
He repeatedly stressed that a new era of honesty and transparency in the media has dawned.
Manyi revealed that he is the sole shareholder in Lodidox, and invited selected journalists to view shareholder documents at a press briefing in Johannesburg.
He said a request to make the shareholder register open to the public is unusual for a private start-up company. "Two media companies have sent lawyer’s letters. My initial stance was to meet them in court. I decided to waive that right. I am making the Lodidox shareholder register public," he said.The sale of the Guptas' media business for R450m on August 21 sparked a social media frenzy, with some criticising the deal and questioning how Manyi could afford the asking price - despite the deal being ‘vendor financed’.