Sharemax Investments

On 15 April 2010, we've started with an R500.00 premium investment at Sharemax Investment Pty (Ltd). The investment was paid by a debit order on a monthly frequency. On Sunday 25 July 2010, we've noticed an article in the Sondag Rapport regarding Sharemax. In this article, it was mentioned that there might be a possibility that the investor's contributions is in danger if they do not comply with certain regulations so my husband and I decided, as we've previously had a bad experience with an investment, that we would cancel our premium investment with immediate effect.

On Sunday 25 July, at 16h54, I've sent a email to the premium department (for the attention: Amanda O., Willie B. (Director), Andre B. (Director) and Gert G. (Director) whereby I informed Sharemax Investment Pty (Ltd) of the immediate cancellation of our R 500.00 premium investment. I've asked for the process and procedures for the paying back of our 4-month contribution (April 2010 to July 2010), which total up to R 2000.00.

On Monday 26 July 2010 I've faxed the cancellation letter, which was emailed to the persons: 09h10 to Mr Johan S. (Johan Smit Brokers), 09h11 to admin department (Sharemax Investment Pty), 09:13 to Amanda O. (Premium department at Sharemax Investment Pty), 09h15 to Mr Willie B. (Director), Andre B. (Director) and Gert G. (Director) at Sharemax Investments Pty. On 26 July 2010, I've received an email from Mr Johan S. whereby the investors are given the reassurance that they investments are not in danger and at 14h10 I've sent a confirmation letter to Mr Johan S. to confirm that we want to proceed with the cancellation.

On 27 July 2010, at about 13h00, I've received a telephone call from Mr George S. regarding my cancellation and he said that he would send me a document regarding the article in the newspaper. I've asked him regarding our 4-month contributions (April 2010 - July 2010), which total to R 2000.00. He said that the paying back would be done as soon as possible. I've said to Mr S. that we still want to proceed with the cancellation.

On 24 August 2010, a month after the cancellation, I've followed up the progress of the paying back of our contributions with an email to Amanda O. On 31 August 2010, I've contacted Amanda O. as I didn't received any feedback on email. I was informed that the repayment is almost ready to be released as it is for signature at the director.

On 1 September 2010 I've received an email from Mr Gert G. (respond to email from 24 August 2010). Mr Gert G. stated that the progress would be followed up immediately. On 3 September 2010 at about 09h30 I've send an email again to Amanda O. to follow up on progress of repayment as it was already 1 month and 10 days. I've also informed Sharemax Investment Pty (Ltd) that if my money is not in my bank account by Monday 6 September 12h00 I will take further action. Amanda O. phoned me at 10h26 and said that the application is now at the Director for signature and she will ask him to phone me immediately.

At 12h35 Mr Gert G. phoned me and said that he acknowledged the receipt of my email and he is aware that I will proceed with further action as mentioned in email. He gave me an amount that will be paid back and said that it is the 3-month contributions. I've corrected him and said it is 4 months (R 2000.00). He said that he is only aware of 3 months but will follow it up and contact me again. I am still waiting for his call.

On 6 September 2010, at 12h00 my money was not in my account and I've sent an email at 14h00 to inform them that I will now proceed with further action. I have received feedback from Riette L. (client service) on 6 September 2010 that said our application for repayment is laying on Mr Gert G's table and the premium department is just waiting for his instruction.

I think that we gave Sharemax Investments more than enough time (1 month and 11 days) to repay our 4-month contributions of R 2000.00. It is not a huge amount that needs to be paid back and I think waiting 1 month and 10 days is unnecessary. We request that the whole amount of R 2000.00 be paid back as we've had some expenses during the cancellation as we have to phone and send emails to follow up the progress. I also incurred expenses for stopping the debit order at my bank.