• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

Company 'hijackers' to appear in court

Dec 03 2010 08:11 Sapa

Company Data

ARCELORMITTAL SOUTH AFRICA LIMITED [JSE:ACL]

Last traded 19
Change 0
% Change 2
Cumulative volume 259598
Market cap 0

Last Updated: 24-04-2015 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Majali arrest signals high noon for hijackers

Majali out on bail

 
Johannesburg - Businessman Sandile Majali and three others were expected to appear in the Johannesburg Specialised Commercial Crimes Court on Friday on fraud charges.

Majali, Haralambos (Harry) Sferopoulous, Stephan Khoza and Elvis Bongani Ndala stand accused of changing the directorship of mining company Kalahari Resources.

The accused allegedly removed Kalahari Resources' two directors, Brian Amos Mashile and his sister Daphne Mashile-Nkosi, from the Companies and Intellectual Property Registration Office (Cipro) database in August.

The two siblings had to bring an urgent interdict before the High Court in Johannesburg to get themselves reinstated as directors of the company.

At the last appearance, the court ordered, on the State's request, that Majali's three co-accused be sent for mental observation.

They are all listed on the internet as directors of the "South African Community Government Union" (SACGU). Its website, www.sacgu.org, carries bizarre graphs and pictures.

According to the website, Khoza is the "Master" of the SACGU, Ndala the "deputy" and "doctor" Sferopoulous in charge of "economics".

An extract from website's home page says SACGU tasks include: "Overseeing the multinational people of the Republic of South Africa, united by the common fate of our land, establishing human rights and freedoms, civic peace and accord, preserving the historical established state unity, proceeding from the universally recognised state principles of equality and self-determination of peoples... ."

Kalahari Resources owns a 40% stake in Kalagadi Manganese, the mining company developing an R11bn manganese mine and sinter plant in the Northern Cape, as well as a smelter at Coega.

The Industrial Development Corporation owns 10% of Kalagadi Manganese, while steel producer ArcelorMittal SA [JSE:ACL] owns the remaining 50% stake.

Majali came into the public eye following his role in the so-called Oilgate saga, that saw him "donate" R11m of national oil company PetroSA's funds to the ANC ahead of the 2004 elections.
 
sandile majali

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Business tips from the world’s billionaires

We share some of the world's most successful people's greatest tips and who knows, this might just lead you to your first million!

 
 

Luxury living

5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!
What to expect inside a royal nursery

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...