ABSA - UNREPENTANTLY PERSEVERING IN *****ING AND KEEPING OUR MONEY!!!

THE NERVE ABSA ARE SHOWING! THEY PERSEVERE IN THEIR WRONG DOING AND YET, THEY CONTINUE REFUSING TO PAY BACK THE FUNDS IN FULL!!! ONE MUST APPRECIATE THAT THEY ARE ALSO TRYING THE RACIAL CARD ALLEGING THEY WERE THE RECIPIENTS OF RACIAL INSULTS! Laughable! WHAT MR. JACQUES LAWRENS OBJECTS TO IS BEING TOLD WHAT AN *********** INDIVIDUAL HE IS. AND THIS IS UNDENIABLE! THE ONLY VEXING THING IN THIS ENTIRE ORDEAL, BESIDES THE UNAUTHORIZED DEDUCTED FUNDS THAT THEY ARE STILL DEDUCTING TO THIS DAY WITHOUT DISCLOSING WHAT FOR ON THEIR STATEMENT, IS THAT THEY APPEAR TO BE UNDER THE IMPRESSION THAT, IF NOT CAUGHT OUT WITHIN THREE YEARS, THEY ARE ENTITLED TO KEEP ALL THE FUNDS THEY HAVE *******LY TAKEN.

PLEASE TAKE A MINUTE TO READ THE CORRESPONDENCE BELOW. DISGUSTING!!!

Trying their luck is what they are and have been doing all along.

People, beware!!!!

YOUR COMPLAINT – ABSA PRESERVATION FUND We refer to the abovementioned matter as well as to our settlement offer dated 28 April 2019. We further acknowledge receipt of your correspondence dated 30 April 2019 wherein our further and final offer was rejected. We confirm that no further offer in this matter will be considered and in light of your rejection of our offer, same is now formally retracted. For the sake of completeness, we would like to give a brief summary of your complaint, the steps we have taken thus far to resolve the matter and the further recourse that is available to you. Summary of complaint and steps taken to resolve the matter You stated in your original complaint that while you signed up for the Absa Pension Preservation Fund in October 2007, you were never again contacted by an adviser subsequent to this. You stated that in 2018 upon contacting Absa, you learnt that the original adviser was no longer employed by Absa. You requested a full refund of charges from inception, including “loss of compound interest”. You also expected over and above the aforementioned compensation “suitable compensation, given the gravity of the issue”. You further elaborated on the abovementioned claims by indicating that funds “have been ****** from you for the last 12 years”. You further then changed your claim for a

refund of the charges including “loss of compound interest”, by submitting that a comparison with the performance of funds similar to the Coronation Top 20 Fund should be performed. You were thereafter presented with an offer, which clearly set out the basis being a recalculation of the value of the investment would have had, had the funds been invested in the Standard Class fund instead of the Wealth Series fund with zero adviser ongoing fees being charged from March 2016 to date, being 3 years before we received your complaint. It was clearly stated that ongoing adviser fees were disclosed at the inception of the investment and was agreed on. The offer was therefore based on the commission charged in the last 3 years (being the prescription period for monetary claims), as it cannot be argued that you were unaware of ongoing commission being charged. You rejected this offer and approached Hello Peter with further correspondence. We would at this stage also like to place on record that your interactions with us, including your response to the offer have been extremely rude, abusive and vexatious, including personal insults to all staff involved, including racial insults. We place on record that despite any perceived prejudice that you suffered, no justification exists for your conduct towards our staff who have been attempting to resolve this matter and your conduct in this regard is highly regrettable. Subsequent to you referring the matter to Hello Peter, you were presented with a further offer, which clearly indicated the basis being what the value of the investment would have been had the funds been invested in the Standard Class investment instead of the Wealth Series from December 2007 to date (which was the date the funds were switched into the Wealth Series funds). The amount offered was R40 841.54. We confirmed that your original adviser left our services in 2009. You again rejected this offer. Our consideration of the matter You indicated in your correspondence in response to our settlement offer that you expected an amount of “just over R50 000” for the commission that was charged over and above the compensation already offered. You again indicated that no ongoing service was received for commission charged and again indicated that funds were “******”. We would like to again confirm that any allegation that funds were “******” from you is denied. It is further denied that no service whatsoever was provided during the existence of the investment. It is clear and not in dispute that the original funds were switched to the Wealth Series funds in December 2007, which could only have occurred with the assistance of an adviser. Your argument that you were firstly not informed of ongoing adviser fees and secondly that you did not receive any service whatsoever is therefore simply not tenable. Your further allegation that the basis of why the offer was revised was not explained is also untenable as it was clearly indicated that whilst we maintained that ongoing commission was clearly agreed upon, we nevertheless considered a further offer in order to bring this matter to resolution. We have considered your claim for total compensation “in excess of R91 000” and confirm that we cannot accede to this claim. By performing a comparative calculation of what the value of the investment would have been had no adviser commission been charged from December 2007 to date, all ongoing commission charged during this

period has been taken into consideration and our offer therefore already includes any ongoing adviser fees that you were charged from December 2007 to date. Any claim for compensation in the manner you indicate has no basis in law and would amount to enrichment. Conclusion In light of the above and specifically your rejection of our offer, we confirm that your claim is hereby formally repudiated. Please note that no further correspondence will be entered into on this matter as you are hereby provided with the external recourse that you may follow here below.