Business / Companies
'Jane Mutasa is not a Telecel shareholder'
15 Jul 2014 at 12:57hrs | Views
Telecel Zimbabwe (Private) Limited management has denied claims that its suspended chairperson Jane Mutasa is still a shareholder.
This follows a court application by the businesswoman demanding company minutes and resolutions.
The fiery Indigenous Business Women's Organisation (IBWO) founder was booted out of Telecel Zimbabwe following $1,7 million fraud allegations, relating to the misappropriation of cash arising from airtime sales.
The Prosecutor-General's office declined to prosecute Mutasa, arguing that there was no substantial evidence incriminating her.
However, the Supreme Court earlier this year ruled that the Prosecutor-General's office should issue a certificate for Mutasa's private prosecution, a decision the State is contesting. Mutasa filed a High Court application seeking to be furnished with documents showing the company's minutes and resolutions since her suspension. In the High Court application, she cites Telecel Global's chief executive officer, Kai Uebach, Aimable Mpore, who is Telecel Zimbabwe's managing director, and the company secretary Angeline Vere as respondents.
Mutasa, who is represented by Tafadzwa Hungwe, said that she was handed a letter after being released from remand prison, indicating that she was supposed to attend an extraordinary board meeting in London. She said because of her strict bail conditions, she was not in a position to travel to London for the meeting, where the decision to suspend her was made. Mutasa told the court that a number of meetings and resolutions were made since March 19, 2010, and she has been denied access to the documents.
"It is clear that the respondents have staged a boardroom coup," Mutasa said.
"Like all coups, the respondents have acted unlawfully, and have violated my rights as the chairperson, director and shareholder."
However, the respondents, through their lawyers Isiah Mureriwa and Richard Fitches, in their heads of argument, refute Mutasa's claims.
"Applicant is not a shareholder in Telecel Zimbabwe (Private) Limited and has never been the substantive chairperson of Telecel Zimbabwe board of directors," Telecel said in its response. "Telecel Zimbabwe (Private) Limited has two shareholders, namely Telecel International (60 percent) and Empowerment Corporation (Private) Limited (40 percent)."
High Court judge Priscillah Chigumba has reserved ruling in the application.
A week ago, High Court Judge Nicholas Mathonsi threw out Mutasa's other application, seeking to nullify the resolution of the meeting that suspended her.
This follows a court application by the businesswoman demanding company minutes and resolutions.
The fiery Indigenous Business Women's Organisation (IBWO) founder was booted out of Telecel Zimbabwe following $1,7 million fraud allegations, relating to the misappropriation of cash arising from airtime sales.
The Prosecutor-General's office declined to prosecute Mutasa, arguing that there was no substantial evidence incriminating her.
However, the Supreme Court earlier this year ruled that the Prosecutor-General's office should issue a certificate for Mutasa's private prosecution, a decision the State is contesting. Mutasa filed a High Court application seeking to be furnished with documents showing the company's minutes and resolutions since her suspension. In the High Court application, she cites Telecel Global's chief executive officer, Kai Uebach, Aimable Mpore, who is Telecel Zimbabwe's managing director, and the company secretary Angeline Vere as respondents.
Mutasa, who is represented by Tafadzwa Hungwe, said that she was handed a letter after being released from remand prison, indicating that she was supposed to attend an extraordinary board meeting in London. She said because of her strict bail conditions, she was not in a position to travel to London for the meeting, where the decision to suspend her was made. Mutasa told the court that a number of meetings and resolutions were made since March 19, 2010, and she has been denied access to the documents.
"It is clear that the respondents have staged a boardroom coup," Mutasa said.
"Like all coups, the respondents have acted unlawfully, and have violated my rights as the chairperson, director and shareholder."
However, the respondents, through their lawyers Isiah Mureriwa and Richard Fitches, in their heads of argument, refute Mutasa's claims.
"Applicant is not a shareholder in Telecel Zimbabwe (Private) Limited and has never been the substantive chairperson of Telecel Zimbabwe board of directors," Telecel said in its response. "Telecel Zimbabwe (Private) Limited has two shareholders, namely Telecel International (60 percent) and Empowerment Corporation (Private) Limited (40 percent)."
High Court judge Priscillah Chigumba has reserved ruling in the application.
A week ago, High Court Judge Nicholas Mathonsi threw out Mutasa's other application, seeking to nullify the resolution of the meeting that suspended her.
Source - dailynews
