Minority shareholders in SAA's Takatso partner not asked to leave, says Harith | Business

Investment firm Harith, the majority shareholder in the Takatso Consortium, does not plan to ask minority shareholders to exit, it said in Tuesday.

Novick, who represented the minority shareholders on the Takatso board, announced his resignation as a director earlier this month, citing concerns over being able to fulfil his fiduciary duties due to what he labelled a lack of transparency regarding the deal. He also voiced concerns over the status of funding.

Global and Novick indicated that they would remain as minority shareholders in the consortium, despite Novick's resignation as a director. "Harith notes that Global and Novick indicated that they will remain as minority shareholders in the consortium and that any conflicts of interest will continue to be managed," Harith told News24 on Tuesday.

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No 'back door merger': Novick hits back at claims of conflict, big demands in SAA showdown | Fin24Gidon Novick, who recently resigned from the board of SAA's chosen equity partner Takatso, has clapped back at claims that relations went sour amid attempts to merge LIFT with SAA at a hefty price tag of over R1 billion. | News24_Business
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