Fin24 reports that the board of Altron advised shareholders on Friday that three senior executives of its subsidiary Altron Nexus had been placed on pre-cautionary suspension.  

This followed an investigation by Naledi Advisory Services that identified potential internal irregularities.  The preliminary findings revealed potential deviation from procurement processes involving an estimated R23m.  As part of the due process being followed, the three executives may go through a disciplinary hearing, overseen by an independent chair.  While the investigation is on-going, plans have been put in place to ensure business continuity at Altron Nexus.  According to the Altron Nexus website, it provides "seamless and streamline cost-effective telecommunications network building".

• Read the full original of the above report by Carin Smith at Fin24

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