Mpinga, Kudenga pull out of BNC board

Mpinga, Kudenga pull out of BNC board

HARARE, August 14 (The Source) – Ousted former chief executive of resources group Mwana Africa, Kalaa Mpinga, and the firm’s former director Ngoni Kudenga have declined re-election to the board of  its 75 percent owned subsidiary, Bindura Nickel Corporation (BNC) at its annual general meeting to be held at the end of the month, BNC said on Friday.

Mpinga and Kudenga were forced out of Mwana last June, along with Herbert Mashanyare at an extraordinary general meeting in London.

The two, however, remained chairman and director of BNC, with their positions up for re-election at the August 27 meeting.

However, BNC said in the two had withdrawn their nominations.

“Messrs Kudenga and Mpinga have indicated that, although they are eligible to seek re-election as Directors of Bindura Nickel Corporation Limited at the forthcoming AGM, they will not seek re-election,” BNC said in a notice to the Zimbabwe Stock Exchange.

Mpinga, however, still controls 39,208,675 shares — 2.8 percent of Mwana’s issued share capital — directly and through Palanka and Katema Mukubayi Trusts. He also holds an additional 666,667 shares in Bindura Nickel Corporation (BNC) or 0.06 percent of its issued share capital.

BNC also said technical director, Thomas Mashungupa was being withdrawn from the board to take up another assignment within the Mwana Africa PLC Group.

The AGM is also seeking a resolution to remove finance director Herman Jacobs and non-executive director James Arthur from the board.

The trio is set to be replaced by Johannes Lampen, Vanessa Yam, Boajin Zhao and Olivier Barbeau according to an earlier notice published by the company secretary Conrad Mukanganga. Oliver Chidawu also remains up for re-election to the BNC’s board

BNC, which owns Trojan Nickel Mine in Bindura and Shangani Mine in south central Zimbabwe, is one of Mwana’s two key operating arms, along with Freda Rebecca Gold Mine, also in Bindura.