Banners
Banners

Latest News

Following the recent protest by Gaborone University College of Law (GU...
FRANCISTOWN: The Botswana Patriotic Front’s (BPF) besieged presi...
An aspiring entrepreneur of Mosu village, Tshepo Gaolefufa, is crying ...
The Botswana Federation of Public Private and Parastatal Sector Unions...
Banners
Banners

Molefe To Challenge Court Order

GOITSEMODIMO KAELO
Pius Molefe PIC: MORERI SEJAKGOMO
The Botswana Building Society (BBS) Limited boardroom brawl seems far from over after its embattled managing director (MD), Pius Molefe vowed to challenge the interdict the board obtained against him and company secretary Sipho Showa on Friday.

The drama at the building society kicked off last week, after board chairperson, Pelani Siwawa-Ndai wrote letters dismissing veteran MD, Molefe, and company secretary Showa.

Management at BBS said the dismissals were as a result of Molefe challenging the extension of board tenure as unlawful.  However, Molefe and Showa were unmoved as they said the letters were void and the meeting held to decide on them was unlawful.

The two executives defied the dismissals and continued to report for duty, prompting the board to approach the Lobatse High Court for an urgent interdict. On Friday, Justice Tebogo Tau granted BBS Limited a temporary interdict returnable on May 5, 2021.

The order interdicted and restrained Molefe and Showa from purporting to represent the company, conducting any business or transactions on behalf of the company and issuing or publishing any statements on behalf of BBS Limited to its bankers, creditors/lenders, regulators, supervisors, professional bodies, stakeholders, including its employees and shareholders and the public.

The order also barred the duo from accessing the company premises, BBS’ bank, accounts and using any other documents, properties, social media platforms belonging to BBS

Banners
Limited.

The interim order also set aside all decisions purportedly taken by either or both Molefe and Showa on behalf of BBS Limited post-dismissal on April 5, 2021. “The respondents should return any and all property of the applicant in their possession within two days of this order being handed down,” read the interim order in part. However, the defiant Molefe has vowed to fight back and challenge the interdict, which he said was obtained behind their backs. “The order was obtained in our absence because the application was not served on us. Obviously, we will challenge the interim order in the shortest time allowable.

The moves by the BBS Limited Board to obtain the interim order surreptitiously is a clear illustration of its lack of confidence in its case and continued attempts to deny BBS Limited Shareholders their right to re-elect them or to elect a new set of Directors,” he stated in a letter addressed to BBS Limited shareholders.

The BBS Limited is set to hold its annual general meeting on April 30, 2021, to amongst others, elect a new board.



News

Banners
Banners ?>

Selefu

COVID-19 tenders

Latest Frontpages

Todays Paper Todays Paper Todays Paper Todays Paper Todays Paper Todays Paper
Banners
Adana Escort Adıyaman Escort Afyon Escort Ağrı Escort Aksaray Escort Amasya Escort Ankara Escort Antalya Escort Antep Escort Ardahan Escort Artvin Escort Aydın Escort Balıkesir Escort Bartın Escort Batman Escort Bayburt Escort Bilecik Escort Bingöl Escort Bitlis Escort Bolu Escort Burdur Escort Bursa Escort Çanakkale Escort Çankırı Escort Çorum Escort Denizli Escort Diyarbakır Escort Düzce Escort Edirne Escort Erzincan Escort Elazığ Escort Erzurum Escort Eskişehir Escort Giresun Escort Gümüşhane Escort Hakkari Escort Hatay Escort Iğdır Escort Isparta Escort İskenderun Escort İstanbul Escort İzmir Escort İzmit Escort Karabük Escort Karaman Escort Kars Escort Kastamonu Escort Kayseri Escort Kıbrıs Escort Kırıkkale Escort Kırklareli Escort Kırşehir Escort Kilis Escort Kocaeli Escort Konya Escort Kütahya Escort Malatya Escort Manisa Escort Maraş Escort Mardin Escort Mersin Escort Muğla Escort Muş Escort Nevşehir Escort Niğde Escort Ordu Escort Osmaniye Escort Rize Escort Sakarya Escort Samsun Escort Siirt Escort Sinop Escort Sivas Escort Şırnak Escort Tekirdağ Escort Tokat Escort Trabzon Escort Tunceli Escort Urfa Escort Uşak Escort Van Escort Yalova Escort Yozgat Escort Zonguldak Escort Alaçatı Escort Aliağa Escort Alsancak Escort Bornova Escort Buca Escort Çeşme Escort Çiğli Escort Gaziemir Escort Karşıyaka Escort fethiye escort iskenderun escort iskenderun escort iskenderun escort iskenderun escort iskenderun escort