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Shoprite sues shareholders

CAROLINE KALOMBE, Lusaka
SHOPRITE Holdings and Shoprite Checkers have sued Lusaka lawyer Lewis Mosho, Richard Hardly and nine companies demanding over K3 million and to be declared as legal owners of the treasury shares.
According to a statement of claim filed in the commercial registry of the Lusaka High Court, Shoprite indicates that it employed the legal services of Mr Mosho and his law firm.
The supermarket argues that from January 2005 to June 2006, Mr Mosho breached his obligation and traded its shares on the Lusaka Stock Exchange (LuSE) without consulting Shoprite Checkers.
It is further argued that the funds amounting to K3,276,189,326.54 were not disclosed or accounted for or transferred to Shoprite Checkers.
Shoprite also wants the court to order a mandatory injunction directing LuSE to correct its records to reflect Shoprite Checkers ownership and title to the treasury.

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