SUPREME COURT THROWS OUT VENTRIGLIAS APPEAL, CONFIRMS MAHTANI AS MAJORITY SHAREHOLDER OF ZAMBEZI PORTLAND CEMENT
The Supreme Court of Zambia this morning delivered a Ruling in which it dismissed an Appeal lodged by the Ventriglias against the Court of Appeal Judgment which held that Finsbury Investments Ltd is the majority shareholder of Zambezi Portland Cement Ltd.
Delivering the 76 paged Ruling, the Deputy Chief Justice Michael Musonda, sitting with Mumba Malila, SC and Justice Royda M.C Kaoma dismissed the Appeal lodged by the Ventriglias with costs.
The effect of this Ruling is that Finsbury Investments Ltd is the majority shareholder of Zambezi Portland Cement. This Ruling finally brings to an end a protracted litigation battle of shareholding in the Ndola based cement manufacturing company that has dragged on in court for the past 12 years.