JOHANNESBURG - Vancouver - based Eastern Platinum (Eastplats) said yesterday it had filed notices of civil claim related to two separate actions in the British Columbia Supreme Court to seek damages from its former directors and officers.
The first claim is against Serina Services AG and Ingwenya Incorporated in relation to the payment of $13.6 million (R176.7m) to them from Eastplats Acquisition and Eastern Platinum Holdings.
In June 2016, former Eastplats management purportedly caused the company to enter into share purchase agreements with Serina and Ingwenya after third-party shareholders of Gubevu Consortium and Lion’s Head Platinum, Eastplats BEE partner companies, said they had relinquished their interests in those companies.
The claim alleges that the agreements between those corporations and the JSE-listed Eastplats companies were not binding, that the funds were an unjust enrichment to them and should be returned.
The second claim is brought against former officers and directors of Eastplats who it alleges purported to enter into agreements with Serina and Ingwenya without benefit.