Times Of Swaziland: HUB GIANTS OFFICIALLY LAUNCH E5M WORTH OF SHARES SALE: EX-MINISTER’S WIFE FOR WANDERERS SHARES

HUB GIANTS OFFICIALLY LAUNCH E5M WORTH OF SHARES SALE: EX-MINISTER’S WIFE FOR
WANDERERS SHARES
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Chris Dlamini on 09/12/2022 08:51:00


MBABANE – Be among the first 50 supporters to buy the Manzini Wanderers shares
and stand to be honoured in the team’s history books.
This was a revelation made by the hub giants’ Select Committee Chairman and
the club’s Legal Advisor in Lawyer Bongani ‘Bhanyaza’ Mdluli during the
launch of their 10 000 shares sale to the club’s card-carrying supporters. The
launch was held at Mountain View Hotel, formerly known as Mountain Inn,
yesterday morning.
It was from the launch that Mdluli made it clear that despite the sale of the
shares to their card-carrying supporters, they also targeted high profile people
like ministers, top government officials, their well-placed people outside the
country, to also buy the shares. He said this would quickly raise the funds to
help Wanderers run itself. The shares are valued at E5 million.
“We already have a list of those targeted individuals in high places and as of
today, the sale of the shares is open so, we’ll soon be announcing the first
few people, who have expressed their interest and also paid the money as some
have already done so,” Mdluli said.
Interest
This publication set out to find out if any of their major targets had already
expressed interest or even bought the shares. It is then that an impeccable
source also working close with the Select Committee and the team’s new
Management Committee (MC), which also had some of its members present, disclosed
that a former minister of Agriculture’s wife was expected to pay as one major
shareholder yesterday.
“Like Mdluli said, the list has top names and some may not even want to be
published because of their positions or status in society, but we do have a
former minister’s wife among those to pay today from our target list,” the
source said, but referred questions to Mdluli. Mdluli did not deny an
ex-minister’s wife was set to buy a sizeable stake in the team.
“The sale is on as of today (yesterday) so yes, there are people we are
expecting to meet and seal deals with as per our target list but we can’t name
anyone at this stage until a certain point where we deem fit to publish our
first shareholders,” Mdluli responded after the launch. In the launch itself,
he introduced the Select Committee members bestowed with the task of raising the
much-needed funds for the team through the sale of the shares.
Issuance
The members are His Excellency, Gambia Consular Tobias Kamugisha, who will look
after the finances from the sale and ensure the issuance of shares certificate,
Diana Girlie Johnson, team legend Moses Khumalo and Willington Motsa while
Lawrence ‘Lolo’ Mthethwa was not present. Two of the committee members asked
not to be publicised due to societal positions.
Mdluli also introduced the present MC members and players before continuing to
explain that all those to buy the shares, needed to understand that this being a
football team, they were not a profit-making company, but were about
sustainability and development of the club in its bid to bring back glory days
and start winning major trophies.
“The more shares you buy the more stake you own in the team, which will now be
forced to have an AGM (annual general meeting) for review and planning of the
future. This is open to all registered supporters with our card which is
E100,” Mdluli explained before Kamugisha also revealed that about less than 20
supporters had already purchased one share each by the time of the launch.
Reiterated
He also said they would reach more people through the social media platforms and
they already had a team working on that with Willington Motsa, who reiterated
the former’s words and explained that they had only six months to do this
before sitting down again on April 12 next year, especially if they are not
fully subscribed by then to make the E5 million target. The committee also
revealed they would be approaching companies to partner with them once they had
a good number of the card-carrying supporters.
On behalf of the club’s legends, Moses Khumalo said it was a welcomed and
smart move, which they were happy to be part of as former players.“Now we can
also buy shares to have a say in the decision-making process and see the club
grow. There is a lot of potential in the selling of the shares to boost the
team,” he said.
Strategy
Meanwhile, the shareholders of the team will have some benefits but they will
not be monetary as they are a non-profit making company. Wanderers got to this
strategy after doing away with their former directors in the company’s books
to allow their constitution to take over as it provides for the 10 000 shares
which, however, also states that not more than 50 people can buy the shares.
They are currently without a director and they are swimming in financial
challenges with salaries being the main issue for them in the past two months.