More trouble at CFI?


The firm also urged minority shareholders to vote against the resolution to remove Chawoneka and Mavhura, saying that they are not responsible for the Langford Estate transaction.

Chawoneka and Mavhura are facing an axe for allegedly delaying and refusing to activate the process to cancel the Langford Estate transaction, which van Hoogstraten’s Messina Investments, a major rival shareholder to Stalap, argues was illegal.

Messina is also seeking the removal from the CFI board of Hamish Rudland and Shingirai Chibanguza at another EGM set for December 13.

Hamish and his brother Simon hold a controlling 40 percent in Zimre Holdings, while Chibanguza is the managing director of Farm &City, a CFI subsidiary.

Stalap said while it is in favour of the removal of Chibanguza, it urges minority shareholders to vote against the removal of Rudland.

Messina Investments, in concert with other parties, holds 42 percent in CFI, making it the largest shareholder while Stalap owns 41 percent.- The Source

See also:

Bidding war at Zimbabwe Stock Exchange listed CFI?

Van Hoogstraten offers more than double for CFI shares

Zimbabwe Stock Exchange wades into fight for control of CFI

CFI Holdings fight is about potential

British tycoon van Hoog escalates CFI fight

Muradzikwa quits CFI


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The Insider

The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.


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