BBS MD says board chair is desperately trying to sway sympathy to the board ahead of the AGM

Molefe says that the statement by the Directors alleging to have suspended him and the Company Secretary should be viewed as pre-AGM campaigning calculated to soil “our reputations and to achieve a particular atmosphere ahead of the meeting of Shareholders next week Friday".

BBS MD says board chair is desperately trying to sway sympathy to the board ahead of the AGM
BBS Managing Director Pius Molefe

Pius Molefe who has allegedly taken the BBSL premises and communications facilities hostage has responded to board chair Pelani Siwawa-Ndai’s statement which said the MD had been suspended.

While Ndai’s communication came through the BSE, Molefe responded through social media amidst allegation that he and Sipho Showa have employed private security to refuse the Board members access to BBSL premises. Ndai had said Showa was also suspended. 

“I wish to inform Shareholders and other stakeholders that the resolution passed by the Directors on the suspensions is unlawful. The announcement should be disregarded,” Molefe says adding that the statement by the Directors should be viewed as pre-AGM campaigning calculated to soil “our reputations and to achieve a particular atmosphere ahead of the meeting of Shareholders next week Friday”.

“As stated above, the suspensions are as invalid as their previous resolution to dismiss us. This matter is before the Industrial Court (IC) and I am optimistic that we will prevail yet again. Arguments by both sides on the alleged suspensions are expected to be heard by the IC in the coming week,” he says. 

Molefe says it is worth noting that my colleagues on the Board have conceded that their resolution to try and defer Director elections at the coming Annual General Meeting and to extend their terms by 90 days was unlawful. He says they “also agreed that they cannot terminate our employment without affording us a hearing, after attempting to do so”.

“Therefore, I would like to call for calm amongst all stakeholders and wish to emphasise that I continue to be available to my fellow Board Members for a reconciliation,” he says adding that in the meantime, Management is working hard on preparations for the Annual General Meeting scheduled for next week Friday 30 April 2021 from 09:00am.