BSE suspends BBS Ltd

Mbongeni Mguni | Wednesday April 7, 2021 13:02

 

BBS Headquaters. PIC: MORERI SEJAKGOMO

BBS Limited is listed on the BSE's Serala board and also has debt securities on the Exchange. 

BSE Limited CEO, Thapelo Tsheole said the trade suspension would be lifted only when BBS provides clarity on the latest developments.

BBS' board and management are involved in a deadlock that has seen letters of dismissal written to the MD, Pius Molefe and company secretary, Sipho Showa.

The dispute is said to revolve around a board resolution to extend five directors terms beyond their April 26 expiry.

Management, led by Molefe, says the extension and dismissals are unlawful.