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enX chairperson, directors resign following shareholder request

23rd June 2020

By: Tasneem Bulbulia

Deputy Editor Online

     

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JSE-listed enX has announced that Steve Booysen has resigned as an independent nonexecutive director and chairperson, while Eddy Oblowitz has resigned as an independent nonexecutive director and Allan Joffe and Paul O’Flaherty have resigned as nonexecutive directors, effective June 22.

The board thanked the four for their contributions to the company and wished them well in their future endeavours.

The resignations follow an earlier announcement, wherein enX indicated that it had received correspondence from MCC Contracts, which holds a 32.44% interest in enX, requesting that the board convene a special meeting of shareholders.

This meeting was to consider various resolutions for the purpose of removing Booysen and Oblowitz as independent nonexecutive directors of the company; removing Joffe and O’Flaherty as nonexecutive directors of the company; and appointing Oyama Mabandla, Zolani Kgosietsile Matthews, Warren Chapman and Andrew James Hannington as nonexecutive directors of the company.

enX had, subsequently, also received irrevocable undertakings from shareholders who, together with MCC Contracts, hold 51.42% of enX’s issued share capital, indicating that they would vote in favour of the resolutions proposed by MCC Contracts.

In light of the level of shareholder support received for the resolutions regarding the removal of Booysen, Oblowitz, Joffe and O’Flaherty, they believe it is in the best interest of enX if they resign immediately, enX said in a June 23 statement.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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