Mnisi feels cheated by other Highlands shareholders
Mnisi says it is normal business procedure for those who already have shares to be consulted and given a chance to bid for others' shares if they decide to sell.
Highlands Park co-director Sinky Mnisi (Photo by Lefty Shivambu/Gallo Images)u
Highlands Park’s 20% shareholder who is stalling the sale of the club, Sinky Mnisi feels the other shareholders should have given him first preference to buy them out if they were no longer interested in owning the top flight franchise.
Mnisi says it is normal business procedure for those who already have shares to be consulted and given a chance to bid for others’ shares if they decide to sell.
“Look, it is very simple… it is a matter of principle. In terms of the memorandum of association or agreement – the bible that guides us – the shareholders have got the first right of refusal. What that means is that before we can sell to somebody outside, we need to offer the shares to the shareholders inside,” explained Mnisi.
He claimed this process had not been followed and he felt he was now being pushed towards selling as well when that was never his intention.
“I have not been offered that chance. And even if we were to go to court, I would beat them hands down on that aspect but it’s not my intention to fight people. I want us to shake hands and move on. And I want to be given what’s rightfully – and I am using the word rightfully on purpose – mine and what I rightfully deserve without anybody thinking that I can be cheated,” he said.
For more news your way, download The Citizen’s app for iOS and Android.
