MONEYWEB
app instead?
The Rebosis Property Fund 2021 AGM is scheduled for Tuesday 12:30
Open:
Sisa Ngebulana, CEO, Rebosis Image: Moneyweb
Ahead of the Rebosis annual general meeting (AGM) on Tuesday, the real estate companyâs chief executive Sisa Ngebulana threatened to interdict the chair of the Moti Group, Zunaid Moti, from being able to exercise voting rights at the meeting.Â
Correspondence between Moti and Ngebulana’s legal representatives earlier this month shows how both parties claim to hold voting rights at the Rebosis AGM.
Chairperson and founder of the Moti Group, Zunaid Moti. Image: Moneyweb
The spat stems from Motiâs shares in Rebosis which were sold to Ngebulanaâs family trust, Amatola Family Trust in August last year. The Trust, however, failed to make the R125 million payment towards the shares, prompting Moti to apply for the sequestration, claiming that the Trust was insolvent.Â
Itâs Zunaid Moti vs Sisa Ngebulana as the businessmen fight for control of Rebosis
By Manyane Manyane, Karabo Ngoepe
Feb 21, 2021
by MANYANE MANYANE, SIPHO MABASO and KARABO NGOEPE
Johannesburg - An on-going battle between two powerful business partners is teetering on the brink of pushing the envelope for a hostile takeover.
The back and forth communications between Sisa Ngebulana and Zunaid Moti, which include court papers, have detailed a partnership gone sour and under-handed tactics to assume control of the business.
This week, the pair is set for a showdown at the annual general meeting (AGM) of Rebosis on Tuesday. At the centre of their battle is the voting rights which both parties believe they hold.
Battle lines drawn as Rebosis saga drags on Citizen reporter
Businessman Zunaid Moti, Chairman of the Moti Group, poses for a photograph in his office in Sandton, 15 February 2021. Picture: Michel Bega Zunaid Motiâs voting rights were granted for the upcoming Rebosis AGM, in which he is owed R125 million by CEO Sisa Ngebulana’s Amatolo Family Trust.
The battle between businessman Zunaid Moti and Rebosis CEO Sisa Ngebulana continues, with two affidavits regarding the North Gauteng High Court matter now in the public domain.Â
Moti said in December last year he was owed R125 million by Ngebulanaâs Amatolo Family Trust.
Foreigners Cut Their Turkish Stock Holdings to Record Low msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Key Parties in Domestic Debt Capital Markets Transactions Listen to article
I recently chanced on a report published by the Ghana Fixed Income Market dated January 2021 as well as the December 2020 monthly bulletin from the Central Securities Depository providing some useful information on the domestic capital market. I further delved into how the corporate bond market has performed over the years and if there were lessons we could pick to further develop and strengthen the market.
There were Nine (9) Corporate Issuers with a total shelve registration of Ghs17.6bn. Out of this amount, ESLA PLC which had a shelve registration of Ghs10bn and Daakye Trust PLC with a total issuance of Ghs5.5bn accounted for 56% and 31% respectively, controlled the biggest market share.