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MINISTER TSANDZILE, HUBBY TAKEN TO COURT OVER E6M SHARE PROFITS

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MBABANE – Minister of Home Affairs Princess Tsandzile and her husband have been taken to court over allegedly unpaid share profits of E6 million demanded by a former director of a company partly owned by the latter.


Dumisa Gwebu said he resigned as a Director of Eco-Rev Distributions (Pty) Ltd under duress but he did not give up his shares. The company, which was incorporated in 2006, is situated on Portion 2 of Lot 1007 at Sidwashini Industrial Site.


It is in the business of supplying blank sheets for number plates and selling signage material. The company started trading in 2010.
Its directors, as per a meeting of the Board of Directors held on October 11, 2010, are Musa Mdluli (60 per cent) and January Masina (40 per cent).

These two remained after the resignation of the minister and Gwebu as Directors who held 44 per cent and six per cent shares respectively.
Gwebu stated that he and Princess Tsandzile had been appointed as shareholders through a resolution that was partly written and verbal on June 30, 2007. Gwebu submitted that he was allocated six per cent shares, which he alleges to hold to date.


The veracity of these allegations is still to be tested in court. The respondents, Masina, the minister, her husband and the company, are yet to file responding papers. Gwebu is represented by Derrick Jele of Robinson Bertram.


Gwebu alleged that he resigned as a director of the company on February 2, 2010 and he has remained a shareholder ever since. He told the court that on a number of occasions he requested Mdluli and Masina to pay him his share of the profits as a shareholder but they have allegedly ignored him.


“In fact, the first respondent (Mdluli) told me that I had resigned as a director and therefore I am not entitled to any profits,” he submitted.

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