‘Blond bitertje’ receives a hefty fine from the FSMA

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Dutch activist Peter Paul de Vries and his investment company Value8 have to pay a fine of 100,000 euros for market manipulation in the Sucraf share. This can be read on the site of the stock market watchdog FSMA. De Vries has to pay 60,000 euros out of his own pocket, Value8 40,000 euros.

The sanction relates to three sell orders placed by Value8 in 2015 for Sucraf shares. According to the FSMA’s sanctions committee, these were subsequently canceled and there was no real sales intention. Read: the orders were put in to bring the price of Sucraf down, so that Value8 could then buy back cheaper Sucraf shares.

Sucraf is listed on the fixing market. It has been an empty shell since the holding lost its interest in a Congolese sugar cane plantation due to nationalization.

The company is 75.75 percent owned by the Dutch Value8. They are looking for new activities that can be listed on the stock exchange via Sucraf.





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