Times Of Swaziland: ‘BULL’ PATRONS GIVE ALLY 80% SHARES!

‘BULL’ PATRONS GIVE ALLY 80% SHARES!
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BY LWAZI DLAMINI on 23/12/2021 09:59:00


MBABANE – Sanity has finally prevailed at Mbabane Highlanders!
After months of dilly-dallying on the registration of the team as a company, the
club’s Patrons have offered South African businessman and club’s Managing
Director, Chief Ally Kgomongwe 80 per cent shares at the club. The remaining 20
per cent has been split between the club’s patrons and the supporters.
According to an informed source, the letter of offer sent to Kgomongwe follows a
resolution taken by the Patrons. The letter, dated December 20, has already been
sent to Kgomongwe.
In the letter, written and signed by Chairman of the Patrons, Thembinkosi
Mavimbela, it states categorically clear that Kgomongwe will hold 80 per cent
with 10 per cent held by the Chairman of the Patrons and the remaining 10 per
cent held by Chairman of the National Supporters Committee.
involvement
“Other details of how the club will be managed will be contained in the
Shareholders Agreement that will be formulated with the involvement of Ally’s
legal representative. The processes aforementioned also involve complying with
the constitution provisions of Mbabane Highlanders FC and informing or
consulting with the supporters of the club.” Mavimbela, in the letter, then
thanked Kgomongwe for his continued service to the club. Reached for comment,
Kgomongwe said while he appreciated that the registration of the team as a
company process had begun, the letter of offer meant nothing if his name is not
on the company registration Form J.
“In South Africa, we call it the CICP, I am told in Eswatini it is called Form
J. That’s where my name has to be if this thing will work. Yes, I have
received a letter of offer from the patrons but a letter of offer means nothing
as it is,” Kgomongwe said. He reiterated his earlier statement that he would
continue paying the players’ salaries for December for the last time if the
registration of the company issue is not resolved to his satisfaction.
confirmed
His legal representative, lawyer Bongani ‘Bhanyaza’ Mdluli, confirmed
receipt of the letter from Highlanders patrons and said this was just one step
of many that needed to be undertaken to finalise the whole registration of the
team as a company process. “There are many steps that have to be undertaken
but all we want to have the company documents, which have to be signed by my
client. This letter is just one step of many we need to undertake. Then we can
lodge the team as a company. We are working towards that,” Mdluli said.