Workers clean windows outside the Cape Town headquarters of Anglo-South African financial services company Old Mutual, March 7, 2016.is expected to continue in a virtual sitting of the High Court in Johannesburg on Wednesday morning.
On Tuesday, Moyo denied that he had put his own interest ahead of that of Old Mutual with regards to a dividend payout.of which Moyo and his NMT partners shared R84m. Old Mutual said Moyo put his interest ahead of the company’s when he elected to pay himself before settling an overdue preference share dividends, valued at R65.4 million, owed to Old Mutual.“But it was a 20% shareholder … it received R2m instead of its pref share dividend of R10m?”“Whatever the reason for the decision, it was a decision to preference Moyo over Old Mutual?”
Moyo: “No, Moyo was never preferred over Old Mutual. Moyo and Old Mutual, their interest were perfectly aligned,” he adds.This entry was posted on 19 Jan 2022,06:28AM at 6:28 AM and is filed under