Finance Committee plans to adopt resolution to have SAA AGM in Nov

According to legal advice provided to the committee on Tuesday, Dudu Myeni’s tenure as board chairperson until an AGM is held, is legal.

FILE: Former SAA board chairperson Dudu Myeni. Picture: GCIS

CAPE TOWN – Parliament’s Finance Committee plans to adopt a formal resolution on Wednesday to force South African Airways (SAA) to hold its annual general meeting (AGM) by 3 November.

The airline has missed Friday’s deadline to table its financial statements in Parliament, also delaying its AGM.

According to legal advice provided to the committee on Tuesday, Dudu Myeni’s tenure as board chairperson until an AGM is held, is legal.

Parliamentary legal advisor Frank Jenkins has told the Finance Committee that Myeni can legally serve for up to six months after an AGM is held and new directors are elected.

According to SAA’s Memorandum of Incorporation, it wasn’t even necessary for Minister Malusi Gigaba to extend her tenure or to give notice.

But Committee chairperson Yunus Carrim says further delays can’t be tolerated.

“It reinforces perceptions [the] people in the ANC have, let alone out there that Miss Myeni is going to be there until 2019.”

But the R10 billion government bailout intended to make the airline a going concern, will not have passed through all the statutory processes before SAA plans to hold its AGM.

“The very department that should know the Monies Bill Act inside out proposes a date that is unrealistic.”

Treasury Director General Dondo Mogajane says replacing Myeni will happen as speedily as possible.

(Edited by Leeto M Khoza)