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The Rebosis Property Fund 2021 AGM is scheduled for Tuesday 12:30
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Sisa Ngebulana, CEO, Rebosis Image: Moneyweb
Ahead of the Rebosis annual general meeting (AGM) on Tuesday, the real estate companyâs chief executive Sisa Ngebulana threatened to interdict the chair of the Moti Group, Zunaid Moti, from being able to exercise voting rights at the meeting.Â
Correspondence between Moti and Ngebulana’s legal representatives earlier this month shows how both parties claim to hold voting rights at the Rebosis AGM.
Chairperson and founder of the Moti Group, Zunaid Moti. Image: Moneyweb
The spat stems from Motiâs shares in Rebosis which were sold to Ngebulanaâs family trust, Amatola Family Trust in August last year. The Trust, however, failed to make the R125 million payment towards the shares, prompting Moti to apply for the sequestration, claiming that the Trust was insolvent.Â