Dividends - False promise by Chairman

Update. AAKH. 17th Nov. 2021.

Any other dissatisfied, disadvantaged shareholders of the Durban based Ahmed Al-Kadi Hospital (AAKH)? Based on the false, deceiving, incorrect and misleading info. given in the 2013 prospectus and pamphlets issued by the then Muslim directors, auditors and IMASA / IMABNT, investors, including many pensioners, purchased shares AS AN INVESTMENT, hoping to earn some dividend income. "The prospectus outlines the investment opportunity like no other" (!!!??) 😭

The hospital was originally scheduled to open in July 2015, but only opened in March 2017!! Some misleading figures (2013 forecast - "Worst case scenario"): 1) After 2 years 8 months (Feb. 2018) Earnings per share: 60 cents. 2) Another forecast: after 3 years: earnings per share: 75 cents; Dividends per share: 37 cents!!

"the Board of Directors is confident of paying an interim dividend to shareholders before the end of September 2021". Chairman AAKH 16-02-2021 FALSE. EMPTY PROMISES!!

To date, 17th Nov., into the 5th year of the 2 year delayed opening, NO dividend has been paid, declared or date of any possible payment made known!!!* IMASA(Islamic Medical Association)/IMABNT were given 26% of the shares for free*. (May Allah reward & guide them to achieve their humanitarian aims and objectives). *Free shares are paid for by the 74% ordinary shareholders. A loan of R130m obtained for this purpose from Albaraka has to be repaid from shareholders income. (after the prioritised Directors fees!). No explanations / apologies to disadvantaged shareholders by management for the sorry state of affairs!. Repeated queries to management regarding the payment of dividends have been IGNORED! Is this: Inefficiency, poor management / planning / budgeting (by professionals!)?? Lack of knowledge & experience in FUNDING a hospital project, personal agendas, "name & fame"?

Management of shareholders funds is an "amanah" / "amanat" (Trust).

Please forward to known shareholders of AAKH and to doctors and other members of IMA