Golding, HCI head to labour court

Marcel Golding Photo: Independent Media

Marcel Golding Photo: Independent Media

Published Oct 23, 2014

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Cape Town - A dispute involving gross misconduct allegations against the suspended executive chairman of Hosken Consolidated Investments (HCI) – that he had purchased shares in another company without authorisation – is set to come before the Labour Court on Friday.

Marcel Golding, a former unionist and MP, was recently informed that he would be facing a disciplinary hearing, as well as of his suspension pending the outcome.

Golding, who is also the chief executive of television broadcaster e.tv and Sabido Investments, which owns e.tv. has approached the court to seek interim relief. HCI said it would oppose.

HCI has a controlling interest in Sabido, according to Golding’s affidavit , which forms part of his application.

In the affidavit he says the disciplinary hearing came after “months of attempts” to get him to relinquish the chair of the HCI board and resign as chief executive of Sabido and e.tv because of his refusal to allow e.tv to be used by the Southern African Clothing and Textiles Workers Union for “political purposes”.

In an answering affidavit on behalf of HCI and HCI Managerial Services – Yunis Shaik, a director of HCI – said Golding had chosen, “intentionally and for the purposes of distracting attention from the seriousness of the complaints of gross misconduct” to make “sensational remarks” in a public forum.

The misconduct allegations arise from the purchase of shares in a company, Ellies, between March and July, costing R24 million. Golding instructed purchasing of the shares.

In a document setting out the harges against Golding, it was alleged the acquisition wasmade without the authority and mandate Sabido’s board and its shareholders.

It listed the charges as dereliction of duty, gross negligence, dishonesty, breach of fiduciary and breach of the ethics policy.

The disciplinary hearing was set down for Monday.

Golding said in his affidavit that he believed it was strategically sound to invest in Ellies.

He alleged Sactwu– which was HCI’s single largest beneficial shareholder – had “persistently attempted to influence the editorial direction of e.tv news in order to further its agenda”.

Sactwu’s general secretary, Andre Kriel said he has not read the court papers.

“We are very saddened by this allegation if it’s true that it’s raised in the court papers.

Shaik said he was “pained by the circumstances that have given rise to this dispute”.

“Mr Golding has made a number of allegations which are spurious and is an attack on our shareholders, which is neither justified nor warranted.”

Independent Media

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