Choppies’ bosses in P450m payout

Ottapathu
Ottapathu

Three months after grossing over P600m from selling shares on the JSE, Choppies’ directors, Ramachandran Ottapathu and Farouk Ismail are in line for another bumper P452m pay cheque, taking their earnings from financial dealings to over a billion Pula since May 2015

Choppies directors Ramachandran Ottapathu and Farouk Ismail are in line for a bumper P452 million pay cheque from the disposal of their shareholding in nine companies related to the listed retail giant.

 In a transaction currently being examined by the Competition Authority, a consortium of investors led by the Standard Chartered Private Equity Mauritius is tying up a deal to buy Spark Capital, a company created to house the nine firms, most of which are suppliers to the Choppies Enterprises.

Editor's Comment
Implement the recommendations Mr. President

The nation is eagerly awaiting this report to have a glimpse of what the recommendations are like, possibly for further debate. Mr. President, it’s our ardent hope that true to your promises, the public will have an opportunity to peruse the report and see if it reflects their interests as the Commission went around the length and breadth of the country collecting views of the people with some choosing to write to the Commission’s...

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