Disquiet over Rollers historic partnership

BOITUMELO KHUTSAFALO
Staff Writer | Monday March 18, 2013 00:00

Although the members appreciated Shah's desire to partner with the club as confirmed by a resolution at a special meeting last year, they felt that some of the terms of reference have not been met.

The aggrieved members are said to have written a letter through their lawyers, Busang Sebonego Attorneys to Shah and copied to the club's chairman, David Mmui, the managing director of Township Holdings (Pty) Limited, Somerset Gobuiwang and the Registrar of Societies about their concerns.  They said they agreed at the meeting that a task force would be set up to oversee the formalisation of the partnership and privatisation of the club.

Among the terms was that the task team would carry out a comprehensive valuation of the club to determine its worth.

It was to establish the shareholding structure of the two companies associated with the club (Township Rollers Pty Ltd and Township Holdings) and determine the most suitable for as a special purpose vehicle for the privatisation process.

In the letter written last Friday, the aggrieved members said the task force has not been formed.

'To that extent, it came as a shock to learn of the launch of the business partnership scheduled for the March 15. The launch as scheduled is not consistent and constructively defeats the resolution as taken to the prejudice of the client and many others who have interest in this matter,' the letter stated.

Through their lawyer, the members requested for an urgent meeting preferably before the launch to deliberate on the issues raised.

The launch however went ahead and was graced by dignitaries among them Assistant Minister of Trade and Industry, Keletso Rakhudu, SuperSport presenter and analyst, Thomas Kwenaite and Botswana Football Association (BFA) president, Tebogo Sebego. The partnership with Shah is expected to improve the club's financial situation.