All East Africa - Latest NewsTANZANIA

Vodacom Tanzania’s 1 million shares risk attachment

Acting as Namemco Energy PTY Limited receiver, Mr Mabanga lodged the application before the High Court’s Commercial Division under certificate of urgency last week, with his advocate Gabriel Mnyele asking the court to urgently determine the matter because the targeted shares may be alienated or sold to other parties.

Through the application, the local businessman requests the court to grant a temporary injunction, restraining Vodacom Group Limited from listing the shares on the Dar es Salaam Stock Exchange, enlisting or dealing with them in whatever manner.

Mr Mabanga is further seeking orders to appoint him a receiver of the shares and order Vodacom Tanzania to pay him all the dividends accrued from the shares.

Pursuant to appointment, the applicant is requesting the court to order Vodacom Group Limited to hand over the share certificates and any other document of the title for shares to him, pending determination of the main suit to facilitate the receivership.

In the main suit, Mr Mabanga is seeking judgment and decree for the court to open the veils of incorporation of Vodacom Group Limited, Vodacom Congo DRC SPRL and that the court should find that the two companies are practically one and the same.

©Alleastafrica and Daily News

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