Mohale FM THE battle for control of Naledi Funeral Planners has intensified after the company’s majority shareholders secured access to company bank accounts and moved to consolidate operational authority, while suspended executives have rushed to court seeking to overturn the developments. The shareholder bloc, which reportedly controls more than 70 percent of the company and now constitutes the Board of Directors, has effectively assumed day-to-day control of the funeral services giant.
The four shareholders are; Thabiso Madiba with (45.152%), Sidwel Jackson (12.523%), Khojane Madiba (1.248%) and Mohau Linake 13.876%. The board has since appointed another shareholder, Tšolo Seutloali, as interim Managing Director. The latest developments follow last week’s dramatic suspension of Chief Executive Officer, Mosuoe Mabote, and Company Secretary and Head of Legal and Corporate Affairs, Advocate Peter Matekane.
However, the suspended executives have petitioned the High Court to nullify the suspensions, arguing that Naledi founder and board chairperson, Thabiso Madiba, acted unlawfully and without proper authority.
