Monday 2020-09-28

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FIGA, FELIX PSL DREAM HANGING IN THE BALANCE

By Colisile Sacolo | 2020-09-16

SOCCER – ESWATINI international duo of Justice Figuareido and Felix ‘Fela’ Badenhorst’s dream of plying their trade in the Premier Soccer League next season is now hanging in the balance.

According to a report carried by soccer Laduma, TS Galaxy’s bid to buy the top flight football status for Highlands Park could hit a snag after the owners recently received a letter from the Premier Soccer League.

The two local players are currently training with the Mpumalanga-based side Figuareido recently penned a three-year deal while Badenhorst is still finalising some contractual details.

With Mnisi, understood to be a 20 percent shareholder, opposing the sale and having already confirmed that he is going the legal route, the PSL now needs enough shareholders to meet the requirements of a special resolution.

In a letter addressed to both Kaftel and Mnisi, the league’ executive committee, through lawyer Michael Murphy, points out that the ‘transfer of the business does not meet the requirements of section 112 of the Companies Act’.

 “Special resolution provided in support of the application to transfer the business of the company does not meet the requirements of section 112 of the Companies Act.

  “In particular, the resolution, it does not refer to precisely the transaction (and parties) referred to in the sale agreement and application. (sic)

 “Save in this respect the executive Committee does not have any objection to the transaction and/or approving the transfer.

 “That being the case, upon provision, by the Company, of a special resolution compliant with section 112 the transaction will be approved, and I have been empowered to issue the approval should I be provided with such a resolution.

“To the extent that Mr. Mnisi has taken issue with the transaction the matters raised are between the company and the stakeholders in the company and cannot be resolved by the league,” reads part of the letter.

TS Galaxy Director Tim Sukazi recently said they were still finalising their purchasing of the status when  sought on the matter.

The pending consortium could end Eswatini players’ absence in the SA elite league since mid-last season after Figuareido’s departure at Maritzburg United. The pair spent last season at Galaxy’s provincial rivals, Mbombela United, who recently lost their Glad Africa Championship League status after they were docked 23 points by the South African Football Association (SAFA).

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