Home | Sports | 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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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.

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