She also called Griffith 'arrogant' following an announcement that Amplats planned to close four shafts in the
Rustenburg area and sell its Union mine.
In an interview with Moneyweb, Griffith said he would not be drawn into a public spat with the minister.
'Clearly the minister is unhappy about a number of things, and I'm going to need to go back to the minister and sit
down with her and work through the concerns that she may have.'
Griffith told the publication that due to the regulations regarding sensitive information, the company could not discuss
its plans openly with all stakeholders.
'I think we would argue that, given the narrow range that we have to consult, whilst we are developing our plans
before it becomes public we were not in a position to talk about some of our future plans with every person, Even the
nature of the conversation with government we've got to be careful about.
'We have continuously engaged with all stakeholders, including different levels of government,' Griffith said in the
report.
Anglo American announced at the beginning of 2012 that that it would review platinum operations.
'So this is likely to be a difficult period. I don't think anyone expected either government or unions or ourselves or
civil society to say it's a good idea that we have retrenchments.
'But the fact is that if we don't do something about the company, eventually 60 000 people in the company will have
no employment. We seek to work with our stakeholders.
'If some of our stakeholders are feeling uncomfortable about that, we need to sit down with them and work through
that. And if there are difficulties we need to patch those up,' he said.
Meanwhile, shocked Amplats workers refused to go underground on Wednesday.
The ANC also responded with anger, calling the miner's decision 'cynical and dangerous in the extreme'.
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Amplats' share price fell 6.30% on Wednesday, while parent company Anglo American's price was down 1.43% on the
JSE."
[88] Much of Fin24 5 is a wordforword copy of Moneyweb 5. In addition, Moneyweb 5 focuses on two main
issues: Mr Griffith's response to Minister Shabangu and the effect of the JSE regulations on Anglo Platinum's
conduct. Both issues, the core of Moneyweb 5, have been reproduced in Fin24 5. Accordingly, Fin24 has
indeed reproduced a substantial part of Moneyweb 5.
"Defencex boss rallies support"
[89] I shall refer to this article as Fin24 6. It was published on 10 March 2013, one day after Moneyweb 6 was
published, at 9:29pm. Thirty hours separated the two articles. I have set out the article below, underlining
those parts that are sourced from Moneyweb 6:37
"Defencex boss rallies support
Cape Town The mastermind behind the Defencex 'Ponzi scheme' on Saturday tried to allay investors' fears at a brief
appearance at a Motivational/Feelgood Day (sic) meeting at Wits University.
Chris Walker, the sole member of the close corporation Defencex, a trading name for Net Income Solutions, told over
a thousand 'investors' that their money had been frozen and that no withdrawals from the scheme would be possible
'until the investigation is complete', reported a Moneyweb reporter who gained access to the closed
meeting.
Attendees reportedly paid R1 000 a ticket to hear Walker's fiveminute explanation of exactly what had gone wrong
with his 2%aday investment initiative.
But it will take more than just facing a handful of investors who invested up to R500m in the alleged scheme.
Investors were up in arms when news broke that the bank account of Net Income Solutions had been frozen on
February 28. There was R320m in the Standard Bank account at the time.
According to Gavin Came, chairperson of the Financial Intermediary Association of South Africa, Walker can only
soothe investor fears by appearing at the court return date on March 26.
He said the only institutions authorised to take deposits are banks, collective investment schemes (unit trusts) and
stock broking firms through stock broking accounts.
'With Defencex, Walker has been taking deposits from the public in breach of the banking laws. If he can convince the
court on March 26 that he is not a bank, the scheme could be in business again, which is unlikely.'
Defencex promised investors some 2% per day on investments of fivemonth duration subject to a complicated
pointsbased assessment system. They could enhance these returns by earning commission on the amounts invested
by people they in turn introduced to the scheme.
At the end of last month, the Western Cape High Court ordered the bank accounts connected to the scheme be frozen
after the Registrar of Banks applied to the court for an interim order interdicting Net Income Solutions/Defencex from
continuing its deposittaking activities.
Page 222 of [2016] 3 All SA 193 (GJ)
Thousands of people had bought into the promise of a daily return of 2% on R100 investment. Defencex sells 'points'
for R100 apiece. These points 'earn' 2%, or R2, a day for 75 days, at which point they can be withdrawn.