Ver Angola

Telecommunications

Unitel meets in GA with forensic audit of the management of the last 10 years on the agenda

The shareholders of the telecommunications operator Unitel are meeting this Monday at the General Meeting (AG) to deliberate on 13 points, including a forensic audit of the company's management in the last 10 years and the restoration of the Board of Directors.

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The shareholders' meeting, which, according to the call of June 25, was scheduled for July 27, was interrupted and resumed this Monday, according to Jornal de Angola.

Unitel is owned by Sonangol, which currently controls the company with 50 percent of the capital, after having bought the 25 percent stake in PT Ventures (controlled by the Brazilian company Oi), by Vidatel from businesswoman Isabel dos Santos, which holds other shares. 25 percent, and by Geni, of General Leopoldino "Dino" Fragoso do Nascimento, with the remaining 25 percent.

Last week, Vidatel claimed to be the creditor of the telecommunications operator, allegedly for lack of repayment of a loan, which Unitel denies, claiming a debt to the company Unitel International Holdings BV., A company in which it has no interest and owned by Isabel dos Santos.

At issue is also the non-transfer of dividends and interest to Vidatel for reasons that Unitel claims to be oblivious to, given the restrictions imposed by the preventive seizure of the businesswoman's accounts and holdings, decreed in December last year by the Luanda Provincial Court.

According to the magazine'Saturday ', money transactions made by entities linked to the daughter of ex-President José Eduardo dos Santos are being investigated by the Portuguese court, including alleged transfers from Unitel to Vidatel.

Among the main points of Unitel's GA, the decision on a forensic audit of the company's management in the last ten years and the restoration of the current Board of Directors stand out.

Shareholders will also appreciate the claim of premiums related to 2018/2019 from Antony Dalton, who succeeded in March 2019, the Portuguese Miguel Geraldes, and analyze the performance of the company's management and inspection in 2019.

Information will also be provided on the judicial decision to annul the deliberations of the AG of December 2014 and the need to renew the deliberations in question.

Resolutions on the accounts and application of the 2019 results should be taken, a proposal for the management's premiums in 2019, the company's business plan for the 2020/2022 three-year period, the budget for 2020, the remuneration of the members of the GA board, the salary deindexation of the bodies and ratification of the regulation of the fiscal council.

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