Hogg steps down from ailing Moneyweb

 ·25 Oct 2012
Alec Hogg

Alec Hogg, the CEO of Alt-X listed media group Moneyweb, has resigned his position as an executive director of the company.

Hogg will remain on the board as a non-executive director. Paul Jenkins will perform the role of executive chairman until a further announcement is made by the board, in this regard, the group said in a statement on Thursday (25 October).

In mid September, Moneyweb Holdings announced a headline loss of R3.72 million for the 15 months ended 30 June 2012, from a prior loss of R2.91 million for the 12 months ending March 2011.

The group cited significant investment programmes over the past few years for the loss, including a substantial investment in applications.

The group reported a basic and diluted headline loss per share of 3.49 cents for the 15 months ended 30 June 2012, from 3.06 cents for the 12 months ending March 2011.

Revenue for the reporting period improved to R44.851 million, from R35.367 million before, while Moneyweb reported a net loss for the period of R4.079 million, from a prior loss of R3.76 million for the 12 month period in 2011.

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