Mawere in court over SMMH

Business tycoon, Mutumwa Mawere, has approached the High Court seeking a declaration that his Shabanie Mashaba Mines Holdings is the sole beneficial shareholder of Shabanie Mashaba Mines in Zvishavane.

Mutumwa Mawere
Mutumwa Mawere

Mawere's application, which cites the ministers of Mines and Mining Development, Justice and Legal Affairs, Finance and co-ministers of Home Affairs and RBZ governor Gideon Gono together with administrator Afaras Gwaradzimba, seeks to register a High Court ruling made in London in 2008 declaring him the sole owner of SMM.

His application says any purported alteration of the member registers of SMM, Endurite and any of their subsidiary companies is of no force and effect.

Mawere's application says the Zimbabwe government's transfer of shares in SMM to government shelf companies AMG Global Nominees and to Nickdale Investments was unlawful and invalid.

Nickdale is now the beneficial owner of 76 percent of the issued shares in SMM while AMG was used by the government of Zimbabwe as a nominee to purportedly acquire the right, title and interest of T & N Limited (T & N), the previous owner of SMMH.

Mawere says the Justice and Legal Affairs minister Patrick Chinamasa's purported reconstruction of SMM was illegal at law.

"No reconstruction scheme was approved by the shareholders of SMM as required by the Reconstruction Act and, therefore, no scheme could be implemented as purported by the Fifth Respondent (Chinamasa)," said Mawere's.

Chinamasa has told Parliament that the government was justified in grabbing more than 20 companies with an estimated value of $400 million from Mawere six years ago, because the businessman had allegedly bought the myriad companies with $43million he allegedly siphoned from SMMH.

Since his despecification, Mawere has made valiant efforts to get his companies back.

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