The annual meeting has been put on ice twice over different reasons, but this time around the meeting is off over the controversial audited accounts.
The DeMbare board of directors and shareholders have demanded that the audited accounts should be made available to them at least a week before the meeting and not on the day of the annual meeting.
“We have stressed that will not been shepherded into a meeting were the audited accounts will be presented on the day of the meeting. We need to study the audited accounts before we attend the meeting,” said a shareholder.
Casper Muzenda, the Dynamos chief executive officer told Standardsport that the meeting was off at least for this weekend due to unspecified problems.
“It’s not possible to have the annual meeting this weekend maybe it will be held in the coming weeks because there are things that need to be sorted,” Muzenda said without elaborating.
It is understood that the audited accounts will touch on the controversial US$50 000 donation from wealthy TP Mazembe owner, which was donated to DeMbare during their 2010 African Champions League campaign. The audited accounts are also expected to dwell on the funds received from sponsors Afrofoods and Savanna Tobacco and how the funds were used. The board of directors also wants the executive to reveal how the funds in the African Champions League were used and which travel agency the club used.
Harrison Mbewe, who was fired a few months ago as Dynamos treasurer has been asked to stay on to prepare the audited accounts for the annual meeting. He will leave his post on presentation of the audited accounts.
Another shareholder of the club said the audited accounts should be published in the media since the club is now a public company. Dynamos now have a board of directors, which replaced the Board of Trustees in the former set up with the Electoral College made up of the Glamour Boys’ founding fathers from 1963 to 1968 becoming the shareholders.
- Chamisa under fire over US$120K donation
- Mavhunga puts DeMbare into Chibuku quarterfinals
- Pension funds bet on Cabora Bassa oilfields
- Councils defy govt fire tender directive
Keep Reading
But since those changes were effected following the registration of Dynamos Football Club (Private) Limited, DeMbare have hardly operated like a club that is owned by a company with the Harare giants still dogged by problems related to lack of transparency and lack of general corporate governance.According to the agenda which has already been circulated by acting Dynamos (Pvt) Ltd secretary Owen Chandamale, however, shows an intention by the DeMbare founding fathers to try and introduce some transparency.
But the indaba will not be short of controversy amid questions by the shareholders on the glaring omission on the agenda of a notice of elections to replace three board members who died between the last AGM and now.
The trio of Ephraim Mpariwa, Jairos Banda and Patrick Dzvene died during the year under review.
In fact, Richard Chiminya’s board is – according to the minutes of the resolution of their November 15, 2008 meeting are now technically out of office.
This is because the Dynamos Electoral College in fending off factionalism that had erupted at the club with a rival board claiming leadership, resolved that Chiminya’s board was the legitimate DeMbare leadership until September 2010.
“Problems bedevilling Dynamos Football Club (Pvt) Ltd and Dynamos Football Club should be buried and be a thing of the past. Rumour mongering should be stopped forthwith.
“That the legitimate and constitutional board of directors is the one led by Mr R. Chiminya as per extraordinary annual meeting of 8th September2007 for the next three years until September 2010,” read part of the minutes.
