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Lenders have told the 130-year-old sugar producer that they are unable to support its restructuring plan or to provide the additional funding required, calling in the debt.
Telkom’s largest shareholder, the South African government, voted against the appointment of a large number of directors to the company’s board at its AGM on Wednesday. The move is reminiscent of the 2012 AGM when former minister Dina Pule voted against – and vetoed – the election of four directors, unleashing a firestorm…
Embattled sugar producer Tongaat Hulett has announced the resignation of its chair Louis von Zeuner.
But he will remain on the board to assist with a smooth transition and handover until June 30, 2022.
They object to the influence that may be enjoyed by the Mauritian company represented by Zimbabwean Hamish Rudland that is underwriting half the deal.