The move is expected to be confirmed at a meeting of shareholders next month.
The August 3 Annual General Meeting (AGM) comes after an earlier indaba on June 30 was adjourned to give shareholders more time to restructure the company.
At the June 30 meeting, government representative, Valentine Vera and van Hoogstraten agreed that the meeting had to be adjourned. Government has 37% stake in HCCL while van Hoogstraten controls over 31%.
Of van Hoogstraten’s shareholding, around 27% is on the Zimbabwe register, the remainder on the UK and South African registers.
Although all names of the new board members could not be obtained, Standardbusiness is reliably informed that lawyer Farai Mutamangira, Shingirayi Chibanguza, Ian Haruperi and Emmerson Mnangagwa Jnr would be in the new look board mandated to formulate policies for the coal miner.
Chibanguza, Haruperi, and Mnangagwa Jnr are van Hoogstraten’s representatives on the board.
Mutamangira would represent the government. The lawyer has represented government before in its fight to be allowed to sell diamonds from Marange. Van Hoogstraten confirmed the appointments on Thursday.
“I would expect the new board to comprise of four government nominees, my three nominees and three independent directors plus the managing director Fred Moyo.
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“I would expect government (as the major shareholder) to nominate the chairman,” he said.
Currently van Hoogstraten has three representatives on the board.
HCCL has a primary listing on the Zimbabwe Stock Exchange (ZSE) and a secondary listing on the London and JSE exchanges.
The restructuring exercise at HCCL would claim the scalp of board chair, Tendai Savanhu at the helm of the ZSE listed company since 2006 and Fortune Chasi who has been with the board since 2003.
There won’t be a place for CFI group corporate communications director, Prisca Mupfumira, ex-central bank senior manager Thandiwe Mlobane and lawyer Shingai Israel Mutumbwa on the board.
Three board members—Thabani Ndlovu, James Nqindi and Rosemary Sibanda—who were retiring and eligible for re-election won’t be available for selection.
Sources said on Friday a new notice would be released announcing the trio’s unavailability for selection. A notice in the annual report said the trio was retiring and available for re-election.
The other board member, Alpheus Motampe Ngapo who is retiring has already indicated that he won’t be available for re-election. Ngapo, general manager for Arcelor Mittal’s Vereening Works, has been on the board since July 2007.
