adminother shareholders will strongly resist Mr Nick van Hoogstraten’s proposed nominees to the RTG board.
The AGM, slated for June 29, will also consider board appointees proposed by Econet, namely new chairperson Mrs Tracy Mpofu (taking over from Mr Patterson Timba), Mr Krison Chirairo, Mr John Gould and S. C. Vera.
The British business mogul has threatened to expose Econet Wireless Zimbabwe’s alleged unclean past dealings in RTG if he does not have his way.
“If my appointed directors are defrauded again of their rightful positions we will call an EGM and expose their self-serving and dishonesty back to 2005 fraud,” he said.
He has accused fellow shareholder Econet of conniving with the National Social Security Authority and Renaissance to frustrate his proposed appointees. Econet, NSSA and Renaissance – through Afre Corporation – hold about 54 percent between them. But the mobile phone operator has denied any wrongdoing.
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Mr van Hoogstraten has demanded more representation on the RTG board by virtue of being the single largest shareholder with a 36 percent stake.
Sources told Herald Business Mr van Hoogstraten’s proposed board appointees, namely “Messrs S. Chibanguza, A. S. Hamilton, M. R. Hamilton and I. Haruperi”, would be rejected by other shareholders at the AGM.
“If he has got something to say (about exposing Econet) he must say it. Arguing about such issues in public demeans the Press and the readers. He says he will expose Econet, what is it that he will expose them about?
“To argue with him (Van Hoogstraten) at that level you become wrong as well,” said well placed sources who commented on condition of anonymity.
Mr van Hoogstraten is allegedly frustrated at his failure to mobilise support from fellow shareholders to support his quest for more board representation.
Asked to comment, Econet chairman Mr Tawanda Nyambirai said he would not talk on the matter in the Press, but would wait for his day at the AGM.
“If a madman is bathing by the riverside and you take off your clothes to join him, if he flees with your clothes and you go after him people will say you are the one who is crazy. This matter will be resolved at the AGM,” he said.
This follows concerns raised by Government on the frequency of negative Press reports about RTG. The Government is expected to make a statement soon to discourage shareholders from bickering on RTG in the Press.
There is a feeling among RTG shareholders that Mr van Hoogstraten wants swaying influence in the group yet he is a “minority shareholder” in the group.
“The fact that he holds 36 percent in RTG does not mean he owns the company. Surely, all other shareholders cannot be held to ransom by an individual. If he fails to get other shareholder support he must not blame anyone,” said a source.
Mr van Hoogstraten is on record as claiming that the RTG board defrauded him of his 19 percent stake in 2005, but the matter as head by retired judge Justice McNally who rules against him.
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