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Township Holdings Company is history-Reports

Township

A company by the name Township Holdings (PTY) LTD in the directorship of Jagdish Shah and Somerset Gobuiwang is no longer associated with Township Rollers Football Club. This comes to the fore following a rocky relationship that existed between the two directors until a time trust drastically thinned.

Moreover, the death of the company was pronounced by the judgment of female Justice Dambe at the high court when the club was fighting identity crisis during the long dark years of 2012-13. The company was formed primarily to support and administer the running of the club.

Shah and Gobuiwang owned 40%shares each while the remaining 20% was left with the society being Township Rollers. But when the court judgment came out, it was clearly stated that, in accordance with Rollers constitution, no entity could run the affairs of the society. This, according to Rollers report, meant that the constitution had to be changed to press forward with what the court had ordered.

It is indicated that the society (Township Rollers) held a special congress to that was to later alter the constitution to cover for the entity or company as the club sought revival and new chattered territories. In article 11.14, the new constitution clearly stipulates that a change has been made to cater and cover for investors or any other entity.

The article in question reads: “The executive committee shall have powers to assign and delegate all or some of its functions to an individual of entity through an agreement supported by resolution of the Executive Committee and may, in the interest of the club, enter into any mutually beneficial arrangement with such a person.”

This is the clause that saw Shah ascending to the helm of Rollers as the sole investor with his new company called Jag-soccer dynamics. The report therefore excludes Somerset as a shareholder of Rollers since the company he co-owned with Shah is now history and good as liquidated.

How and why Township Holdings could not be given another chance by Rollers membership is unknown but the reported fallout between the two directors is said to be reason it is defunct. When the two directors agreed to work together for the betterment of Rollers, it was signed that Shah was to take charge of financial and managerial situation of the company while Somerset was given the role of operations.

The two, in 2013, agreed to work together and vowed never to pledge their shares to third parties. According to the report, the company is now in isolation where the two directors are expected to meet in the not so distant future to decide its fate.

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