Africa Bitcoin Corporation board quits in shareholder clash
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Four of Africa Bitcoin Corporation’s six directors, including chair Norma Sephuma and interim CEO Stafford Masie, have resigned after a shareholder group led by WGW Capital moved to have them voted off the board. The JSE-listed bitcoin treasury company is left with two directors. In a stock exchange announcement on Monday, the company said WGW and other shareholders holding about 71.8% of its ordinary shares had sent the board a second letter. It required resolutions to be put to a shareholders’ meeting to remove Sephuma, Masie and independent non-executive directors Snowy Masakale and GG Alcock.
First reported by TechCentral. This page is a short excerpt; the full text is theirs.
