hwange colliery company.jpgThe Board of Directors of Hwange Colliery Company Limited has filed an urgent chamber application at the high court, seeking the court to determine the legality of a notice issued by the company secretary.

The company secretary had issued a statement on the 8th of July purporting to convene an adjourned annual general meeting of the shareholders.

In the urgent application, Hwange Colliery Company, represented by Mr Gerald Mhlotshwa, said the board did not at any time authorise the company’s secretary to issue out the notice, which they said contravenes Section 130 of the Companies Act.

The Act states that an adjourned annual general meeting must be held on the seventh day after the date of the meeting on which it was adjourned.

The Board of Directors have submitted that any meeting convened as a result of the unlawful notice will be illegal and the decisions made from that meeting will be null and void and of no force and effect.

The company secretary issued statements in the media, advising stakeholders that the annual general meeting scheduled for Wednesday the 3rd of August will proceed as notified in the press on the 9th and 10th of July.

The secretary stated that the AGM was earlier postponed in terms of a resolution passed by the shareholders before the commencement of the meeting on the 30th of June this year.

The company secretary advised shareholders to disregard notices to cancel the AGM published in the local media by the Board Chairman, Mr Tendai Savanhu.