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RESOURCES group Mwana Africa Plc former chief executive Kalaa Mpinga will not bid to retain his position as chairman of the company’s subsidiary, Bindura Nickel Corporation at the company’s annual general meeting set for August 27.
This is despite the fact that he is eligible to seek re-election. Mpinga was forced out of Mwana Africa a day after the group’s June 10 EGM that saw a couple of non-executive directors being removed from the board.
The purge of directors was led by majority shareholder China International Mining Group Corporation and a group of “activist” minorities shareholders.
However, although expectations were high that Mpinga would seek to retain his position in Mwana’s 75 percent owned nickel producer, the contrary is true.
Mpinga still controls 39,208,675 shares, representing 2,8 percent of Mwana’s issued share capital, directly and through Palanka and Katema Mukubayi Trusts.
He also holds 666,667 shares in Bindura Nickel Corporation, representing 0,06 percent of the Zimbabwe Stock Exchange listed issued nickel extractor.
Further, Zimbabwean Ngoni Kudenga, one of the non-executive directors removed from the Mwana board, will also not seek re-election as a director of BNC.
Said Mwana Africa in an update to shareholders: “Messrs Kudenga and Mpinga have indicated that, although they are eligible to seek re-election as directors of Bindura Nickel Corporation Limited at the forthcoming AGM, they will not seek re-election.”
The group also sought to correct a mis-reading on the agenda of the upcoming AGM concerning the “re-assignment” of Thomas Mashungupa.
“Item 2 (‘Directorate’) of the Agenda also referred to the removal of Thomas Mashungupa from the board of directors of the company with immediate effect. This statement may have created an incorrect impression that Mashungupa would be or had been dismissed from the board.
“The correct position is that Mashungupa will be withdrawn from the board of directors of Bindura Nickel Corporation Limited in order to take up another assignment within the Mwana Africa PLC Group,” said Mwana Africa.
BNC, which owns Trojan Nickel Mine in Bindura and Shangani Mine in southern Zimbabwe, is one of Mwana’s two main operating entities in the country, along with the Freda Rebecca Gold Mine, also based in Bindura. — BH24
Online Reporter