Adapt IT CEO Sbu Tshabalala has temporary stepped down to deal with a personal matter, the company announced today.
In a statement, Adapt IT says Shabalala has been granted a leave of absence for three months by the board.
Tiffany Dunsdon, chief commercial officer, will become interim CEO during the period Shabalala will be on leave.
The move comes on the back of weekend reports that Shabalala had been involved in an attack on an Ethekwini municipality manager, Sipho Nzuza.
According to the Sunday Times, Shabalala is accused of ordering unidentified men to assault his estranged wife, Neo Shabalala’s partner, Nzuza, who is now reportedly in critical condition in hospital.
The newspaper reported that Neo and Sbu Shabalala are battling over the divorce settlement, with his former wife claiming part of his assets, which she says is over R133 million.
Commenting on the issue, a spokesperson for Shabalala tells ITWeb: “Given the divorce court proceedings and the inherently private nature of the matter, Mr Shabalala has been advised by his legal representatives to decline to make any statements at this stage.
“He will, however, be available to make a statement at some future time or on some future occasion when it is deemed fit.”
The development comes as the JSE-listed software group is in the middle of tense takeover negotiations that have pitted Canadian group Volaris against Huge Group.
Today, Adapt IT and Volaris extended by a week the deadline for the fulfilment of the scheme of arrangement for the takeover of the JSE-listed software services group.
Initially, the fulfilment date was set for 7 May but has now been moved to 14 May, Adapt IT announced today.
Volaris has received a binding offer from a significant number of Adapt IT shareholders, placing the company at an advantage in its attempt to control the JSE-listed specialised software provider.
The Canadian software group, which is facing a fierce challenge from Huge Group over the Adapt IT shares, announced two weeks ago that it had obtained noteworthy support for the deal after receiving irrevocable commitment from shareholders holding 44.4% of Adapt IT shares.
Volaris launched its bid to take control of Adapt IT last month, offering to acquire more than 50% of the issued ordinary shares of Adapt IT for 650c per share.
Huge Group had upped the ante in its effort to take control of the software services company with in a series of videos that discredited the Volaris offer, while urging shareholders to accept its bid. The company was later forced to remove the videos.
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