Mwana Africa speaks on Morris, Botha resignations

Resources group Mwana Africa says the succession plan for additional independent non-executive directors is currently being discussed by the board as two directors resigned ahead of an extraordinary general meeting (EGM) tomorrow.

by BUSINESS REPORTER

Non-executive chairman Stuart Morris and another director Johan Botha resigned from the board on Friday.

In a notice on Friday, Mwana Africa said the board was seized with the matter of additional independent non-executive directors.
“The succession plan for additional independent non-executive directors, including the chairman of the company, is currently being discussed by the Board,” Mwana said.

Morris, Botha and other non-executive directors Ngoni Kudenga and Herbert Mashanyare had been slated for ouster from the board after shareholders with a combined 5,1% equity requisitioned tomorrow’s meeting to ring the changes in the board.

The same shareholders want the EGM to replace the quartet with Mark Wellesley-Wood, Oliver Barbeau, Anne-Marie Chidzero and Scott Morrison.

Mwana said its substantial shareholder CIMGC and Yat Hoi Ning, a non-executive director and associate of CIMGC, have agreed to the withdrawal from their court petition of Morris and Botha.

classifieds.co.zw Ads

The Chinese company has a pending court case seeking the ouster of four directors including the departing duo.

Kalaa Mpinga, Mwana Africa chief executive officer, paid tribute to Botha and Morris for their contribution to the resources group.
“Stuart and Johan have always acted in the company’s best interest and I wish them both well in their future endeavours,” Mpinga said.

Leave a Reply

Your email address will not be published. Required fields are marked *