Safika Holdings is to appeal against a high court ruling that its business affairs be probed in connection with a legal dispute with Makana Trust.
"We are definitely going to appeal," Safika chairman Moss Ngoasheng said this morning. He declined to comment further, referring queries to the group's attorneys.
However, the attorney representing Safika was unavailable for comment as he is on leave.
Makana Trust chairman Sothomela Ndukwana was also out of the office. A staff member said he had several meetings to attend today and would not be available.
The dispute between Safika and Makana Trust, a trust established to benefit former Robben Island political prisoners, centres on M-Cell shares acquired jointly from SBC Communications three years ago, with Makana Trust alleging that its portion of the shares were misappropriated.
It claims that it transferred the shares to Safika so it could participate in a bid for the third cellphone licence, on condition that the shares be returned if the bid failed.
The high court ruled at the end of last month that the 1998 payment to Ngoasheng and Safika director Vulindlela Cuba of amounts adding up to R4 million be investigated along with the sale of the M-Cell shares and whether Makana was entitled to them.
Share
