MN
Marcus N

1 reviews | Active since Dec 2023

21 May 2024, 08:22

Oceans Hotel Shares

In 2017 I purchased shares with Oceans Hotel Invest and was really excited about my investment. Initially it was said the the shares will be locked for 5 years before they are listed. It was managed at first with computershare which I thought was great. I later learned that the shares are no longer managed by computershare but by a company called Motif. It is now 2024 and the communication from the company is so bad that you have to keep calling Edison Corp offices to query about your shares. Brian who is supposed to be the contact person never responds to your emails or whatsapp messages. Same goes for Zama Dlamini who works for the same company. Nobody gives you the correct info. I also decided to sell my shares and 7 years later I was told that my shares are still worth R20 per share as was the initial offering. Yet the Hotel, Residential and Retail space are all open and my money was used for that together with thousands of other shareholders. I decided to sell my shares because there is no guarantee that this shares will be listed on a trading platform any time soon. It is also sad that the company built these properties with the shareholders monies and now are reaping the benefits of all our investments yet they say that there is no change in the price of the shares. Had I invested the very same amount in a fixed deposit account, I would have got a considerable amount of interest for my money. This company really needs to be investigated.

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