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Sports Reporter
SEVEN individuals were handed an equal minority stake of seven percent each, in Dynamos FC (Pvt) Ltd, the private company under which the country’s biggest, and most successful football club, falls.
Another individual, however, handed himself a 51 percent controlling stake in the same company, giving himself full control of the Glamour Boys.
Some of those who were handed part of the minority stake, like Dynamos legend, Simon Sachiti, who died in Harare earlier this month, didn’t even know of the transaction, which significantly changed the ownership structure at the Glamour Boys. Ironically, Sachiti, who rose to become club secretary-general, had been on a mission to bring the various factions, who have fought numerous boardroom battles to try and control the club, on to the same page where they could work together.
The 75-year-old, who was buried at his rural home in Rusape last week, was one of seven people, who were given an equal minority stake, in Dynamos (Pvt) Ltd, in a deal, which has now spilled into the courts. However, Sachiti, just like his former colleague on the Dynamos board of directors, Robson Rundaba, who was also handed a seven percent stake, was not even aware of the deal.
This meant the seven individuals had a 49 percent stake, in the ownership of the company, while board chairman, Bernard Marriot Lusengo, had a 51 percent stake, on his own.
How the ownership structure at the company, was changed, without the input of some of the directors who ended with a seven percent stake in the entity, is at the heart of the case, now before the courts.
Marriot has already appeared in court, facing allegations of defrauding the country’s biggest and most successful football club, and the private company under which it falls, of a 51 percent shareholding.
He appeared before Harare magistrate, Shane Kubonera, who remanded the matter to July 26, for trial.
While the previous battles at the Glamour Boys have been fought in the civil courts, it’s the first time one of the club’s leaders has been dragged into a criminal court, to answer charges of allegedly using illegal means, to take ownership of Dynamos. Rundaba, representing Dynamos FC (Pvt) Ltd, a former powerful ally of Marriot, before the duo fell out over issues related to the ownership of the club, is the complainant in the case.
The court heard that sometime in 2008, Dynamos FC articles of association were replaced through a special resolution.
The net effect of the articles of association was to allocate some shares to people who were active members of the club, during the period, extending from the club’s formation in 1963 to 1968.
It is alleged that this was in accordance with the recommendations of the Sports and Recreation Commission.
The articles of association were adopted through Article 6 to 19, and a three- member committee was set up to look into the issue of allocation payment, distribution and issuing of share certificates. The committee comprised Rundaba, Marriot and Casper Muzenda, who once occupied the role of chief executive, at the football club. However, the court heard that the allocation of shares, and issuance of certificates, was not done.
A number of Dynamos legends, who initially qualified for a stake in the company, under which the club falls, have died over the years. However, the issue of what happened to their stake, has remained a source of controversy.
Peter Tanyanyiwa
Online Reporter