Shareholder power play at Pula Steel
Friday, July 14, 2017
Ahead of today’s deadline for the three shareholders, Verma family, Citizen Entrepreneurial Development Agency (CEDA) and Wealth Generations, to raise the funds through equity and debt injections, Mmegi BusinessWeek has gathered that the Indian family investors will not inject more funds into the troubled steel business as they have declared the capital call process unprocedural .
This will pave way for CEDA to become the new majority shareholders in the business and inject the funds, which will be used to restart the mothballed business as well as pay a portion of the P100 million creditors’ bill.
The recent disclosure by the IEC that 2,513 registrations have been turned down due to various irregularities should prompt all Batswana to meticulously review the voters' rolls and address concerns about rejected registrations.The disparities flagged by the IEC are troubling and emphasise the significance of rigorous voter registration processes.Out of the rejected registrations, 29 individuals were disqualified due to non-existent Omang...