Photo by: Duane Daws
Cement producer PPC would, during the first half of next month, convene a shareholder meeting to consider the proposed removal of the entire board of the company, as well as the proposed election to the board of certain other persons.
The company said it had resolved to convene the meeting in the interest of certainty and transparency, following a requisition from three shareholders holding a combined 10% of PPC shares.
PPC CEO and director Ketso Gordhan had resigned in September, citing a “difference of opinion” with the board in terms of board procedures for the approval of certain decisions.
Joint MD Richard Tomes also left the company last month.