Anthonie Bougas is in Thailand and ‘not available’.
KleuterZone failed to pay dividends to investors by Monday (10 March).
According to eight investors who spoke to Moneyweb over the past two days, they have not received a cent of their promised dividends for March, as the company committed to do.
The investors usually receive payments on the seventh of each month.
Following Moneyweb’s reports on the sustainability concerns regarding KleuterZone’s advertised high returns and business model, many complaints have been received from investors and school owners who have engaged in business with KleuterZone.
KleuterZone is a national nursery franchise that has promised its investors annual returns of up to 62.4%.
The company was founded by Anthonie Bougas, a former singer and TV presenter.
ALSO READ: Are KleuterZone’s promised returns of up to 62.4% too good to be true?
Investor updates
Investors received WhatsApp messages late Monday night from Kobus Schoeman, former KleuterZone CEO, who tendered his resignation on 20 February after it transpired that he had been struck off the roll as an attorney in 2018.
Schoeman said in a voice note to Moneyweb that the incident that led to his removal involved trust money that was stolen but maintained that he was innocent.
Schoeman is however still involved in KleuterZone’s operations. He sent a message to staff members last week, saying that although he resigned as CEO, he would still deal with the day-to-day operations.
Schoeman has now filled the void left by the absence of Bougas, who, according to Rapport newspaper, has left South Africa and is currently in Bangkok, Thailand.
ALSO READ: KleuterZone share certificates reference companies that do not exist
No dividends, no rent
In several WhatsApp messages over the past three days, investors were assured they would receive their dividends on 10 March, as 7 March fell on a Friday.
In the early hours of Tuesday morning, a follow-up message circulated advising investors that there is now “no information” regarding their dividends but that an unnamed group is considering taking over KleuterZone.
A WhatsApp message that was sent to KleuterZone investors on Tuesday 11 March. Source: Supplied
Similarly, landlords renting their properties to KleuterZone received a message requesting their “patience”, as the payments are outstanding due to a “media attack” and Bougas’s unavailability.
“Dear landlord, we kindly ask for your patience and understanding regarding KleuterZone’s rent. We are currently facing a media attack, and as you are aware, the director is unavailable. We sincerely request an extension while we work on resolving these challenges.”
A WhatsApp message that was sent to KleuterZone landlords. Source: Supplied
The investors and stakeholders who have reached out to Moneyweb over the past two days say they have tried in vain to get responses from Bougas and KleuterZone’s administrative personnel.
A landlord who wishes to remain anonymous told Moneyweb that she had never received the rent on time in the past year.
“At times, they skipped payment for two or three months. It has cost me thousands of rand in lawyer fees to get the rent from them.”
KleuterZone owes her between R20 000 and R25 000 for leasing the property and utilities for March. “I haven’t been paid for this month, over and above the overdue R11 000 from previously.”
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KleuterZone ‘for sale’?
There has been no word from Bougas since he addressed investors in a pre-recorded YouTube broadcast on Saturday, 22 February.
According to Rapport, Bougas left South Africa on 23 February and is currently in Bangkok.
Instead, Schoeman appears to be trying to put out fires and calm stakeholders.
He confirmed on Tuesday morning in a voice note to investors that Bougas is abroad, although he did not disclose the location.
Said Schoeman: “Lelani [Schoeman’s wife] and I have been through very tough times with Anthonie, who is no longer in the country … We are now doing what others were supposed to do.
“We have found a buyer – a large firm – willing to take over the KleuterZone group. They requested a lot of figures from us over the past six or seven days. The last figures were given to them last night [Monday night].”
Schoeman further claimed that neither he nor his wife can access KleuterZone’s financial information or bank accounts.
“Everything was handled by Anthonie. So, we are working with what we have and giving them what we have.”
Moneyweb has, in its investigation into KleuterZone, submitted several requests to Bougas to obtain historical financial statements for KleuterZone’s schools. He repeatedly denied these requests, stating that private companies are not obligated to provide such information.
According to Schoeman, negotiations regarding the sale of KleuterZone are proceeding well, and investors should know the outcome by Wednesday afternoon (12 March).
“It will be a total takeover – the assets, liabilities, and investors. So, the investments will also be sorted out.”
Moneyweb’s attempts to reach Schoeman have been unsuccessful so far.
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Attorney terminates services
Bougas’s attorney, Frederick van Zyl of the legal firm Van Zyl Scheepers, who represented KleuterZone, notified Moneyweb on Tuesday that Bougas is no longer his client.
“Kindly be advised that we terminated our clients’ mandates this morning with immediate effect. The cancellation relates to all KleuterZone entities and Mr. Anthonie Bougas. All future enquiries relating to any KleuterZone entity or its representatives should be directed at Mr. Anthonie Bougas.”
This article was republished from Moneyweb. Read the original here.
