This response is according to information received from the SOC:
(1)(a)(i) As per invoices received "Transaction Fees".
(1)(a)(ii) According to Regiments these payments were made for services rendered during the structuring of the transaction. It was found by
the TSDBF that no such fees were payable separately from the fee and cost structure agreed in the original investment management
mandate agreement and as such not allowed.
(1)(a)(iii) R 228millon.
(1)(b) The TSDBF Board of Trustees appointed Regiments Capital in terms of a detailed duly legal and approved investment agreement.
No blank mandate was given (supporting documents attached).
(2) The decision of the Trustees was in terms of the authority vested in terms of the Rules of the TSDBF.
(3) The decision of the Board of Trustees was not ultra vires but in terms of the authority vested in The Rules of the Fund.
(4)(a)(i) H Gazendam, Y Forbes, E Tshabalala,R Louw, V Naidoo,
C Fichardt, J Benwell, M Myburgh, J Grobler.
(4)(ii)(aa) No current directors of Transnet.
(4)(bb) H Gazendam,Y Forbes, E Tshabalala
(4)(b) The Transnet Board did not play any role in appointing Regiments
Capital as the investment advisor of the TSDBF.
(5) N/A
Minister: the dubious and problematic role of Regiments, Trillion and other entities in the state capture process will be investigated further by the respective SOC Boards – and presumably by the Zondo Commission.