Molefe 'foils' board's new ouster strategy
Mpho Mokwape | Tuesday April 20, 2021 18:13
In a statement to the building society’s shareholders today, Molefe said he had intended to reach out to the board members to forge a way forward but was disappointed to learn that the directors still wanted to dismiss him and Showa despite the High Court ruling.
Molefe and the board have fallen out in recent weeks over allegations that five directors are attempting to extend their terms beyond the April 30 AGM. The board resolved to dismiss Molefe and Showa two weeks ago, but Lobatse High Court judge Tebogo Tau, on Monday ruled that the meeting that took the decision was unconstitutionally convened.
'It had been my intention yesterday following the order to reach out to my fellow board members to request for calm minds and emotions to prevail leading to the AGM next week Friday,” Molefe said.
“Unfortunately, I was disappointed when I received a draft document from the chairperson of the board, just before noon via WhatsApp to the effect that she and my other colleagues would be approving a resolution by round-robin to dismiss me and the company secretary from office again without giving us a hearing as stipulated in the BBS Limited conditions of service.”.
Molefe said he immediately proceeded to the Industrial Court where he managed to secure an interim order barring fellow directors from executing their plan.
According to the order issued by Industrial Court yesterday, the matter was treated as urgent and the board was interdicted and restrained from terminating Molefe and Showa's contracts of employment by passing a resolution in terms of the constitution without a hearing or from giving effect to any resolution terminating the applicants' contract of employment without a hearing.
The date for the return of the interim interdict is May 26, 2021, which will be after the highly anticipated AGM where shareholders will choose the board of their liking.