Wednesday, January 9, 2008

Drug firm 'fires' BEE partner

(FIN24) - In a move probably unprecedented in South Africa, AltX-listed pharmaceutical and natural products company Imuniti has "fired" its empowerment shareholders.


The BEE shareholders include union and ANC connected heavyweights like Kopano, investment arm for Cosatu, Malibongwe, that works on women's empowerment for the ANC Women's League, and Star Choice, an investment vehicle for the Tambo family.


Imuniti CEO Paul Fouche could not comment on reports Fin24 received about the empowerment shareholders, saying if true it was a matter between Imuniti's founder members and the BEE shareholders. However an announcement is expected.


The rumours are also supported by an announcement on JSE news wire SENS on December 21 that Tembi Tambo, daughter of the late Oliver and Adelaide Tambo, had resigned as an executive director of Imuniti. She formed and ran Star Choice to look after the Tambo family's 3.3% interest in Imuniti.
 
 

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