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Group Five chair Nonyameko Mandindi, 3 non-executive directors resign

The company which has been one of the country’s construction industry beacons filed for bankruptcy protection after its lenders pulled funding, putting over 8,000 jobs on the line.

Picture: GroupFiveStructuredIngenuity/Facebook

JOHANNESBURG - Construction company Group Five, which has been under business rescue since April, has announced the resignation of its chairperson Nonyameko Mandindi and three other non-executive directors.

In the market update, the company explained that the four have tendered their resignations with immediate effect.

They have served on the group give board since July 2017, under what the company says were “challenging circumstances”.

The company which has been one of the country’s construction industry beacons filed for bankruptcy protection after its lenders pulled funding, putting over 8,000 jobs on the line.

It also made a total loss of R1.8 billion in the eight months ending February, with even more losses recorded in its 2017 financials.

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