FINSBURY INVESTMENT REMAINS THE MAJORITY SHAREHOLDER OF ZAMBEZI PORTLAND LTD, NO DEBATE
There has been a fake story in the media in which the minority shareholders in Zambezi Portland (The Ventriglias) are wildly claiming that the court of Appeal on 16 September 2021 resolved the shareholding structure in the Ventriliglias’ favour.
Contrary to this assertion, the recent ruling of the court of Appeal merely allowed the Ventrilglias to pursue their application in the same court but only in relation to the quantum of the money (which was paid into court by Finsbury Investment limited) in accordance with the judgment, and the 42% shares which were awarded to their family company Ital Terrazzo instead of themselves in their individual capacities.
The issue of the quantum is merely a debt and does not alter or in any way question the shareholding.
As far as the ownership of Zambezi Portland Cement limited is concerned, Finsbury Investment in the 58% majority shareholder. The judgment of the court of Appeal of 31st January 2019 and the Supreme Court decision of 28 October 2020 stand as final decisions, and are not appealable in any court.
Therefore, any attempts by the minority shareholders to continue blocking the majority shareholders from accessing the cement plant using thugs and police on private property as they have been doing since 2015 is illegal and in violation of the law.