AG ‘AFIRMS’ FINSBURY MAJORITY SHAREHOLDING
The Attorney General, Mulilo Kabesha has stepped in to provide guidance in the protracted wrangle over the ownership of Zambezi Portland Cement(ZPC).
In his correspondence to the registrar of Patents and Companies Registration Agency(PACRA) dated 27th December, 2021, Mr. Kabesha affirms PACRA records must be restored in line with the 31st January, 2019 judgement which gave Finsbury 58 percent shares until it is overturned.
The Attorney General’s rendered opinion therefore, restores and resolves the shareholding structure, which places Finsbury Investments in pole position, as a major shareholder with fifty-eight percent following the request for guidance by PACRA.
Recently, the Ventriglia family had threatened to commence contempt of court proceedings against PACRA owing to the reversal in the change of the ownership at Zambezi Portland Cement(ZPC).
The Ventriglia’s have allegedly been attempting to stage a hostile takeover through unruly thugs to man the plant thus denying the rightful owners Finsbury from accessing the facility.