Zalari has raised $2 million USD in a founding round led by Nyamaropa Technologies
Harare High Court
Norman Elias Sachikonye v Capital Alliance (Private) Limited and Douglas Hoto and Noel Biti and Sheila Lorimer and Pelagia Kafesu
HH 5-2008
Case Details
Court
Harare High Court
Date
7 November 2007
Citation
HH 5-2008
Neutral Citation
[2008] ZWHH 5
Outcome
unknown
Case Type
Application
Bench
Presiding
Gowora J
Full Bench
Gowora J
Areas of Law
Company LawCommercial Law
Keywords
Shares disposalCompanies ActManagement buy-inDemutualization
Tags
Company LawShare DisposalManagement Buy-in Scheme
legislation
Statutes Cited
- C
- r
- i
- m
- i
- n
- a
- l
- A
- p
- p
- e
- a
- l
- A
- c
- t
- 1
- 9
- 6
- 8
- C
- r
- i
- m
- i
- n
- a
- l
- P
- r
- o
- c
- e
- d
- u
- r
- e
- a
- n
- d
- I
- n
- v
- e
- s
- t
- i
- g
- a
- t
- i
- o
- n
- s
- A
- c
- t
- 1
- 9
- 9
- 6
- H
- u
- m
- a
- n
- R
- i
- g
- h
- t
- s
- A
- c
- t
- 1
- 9
- 9
- 8
- E
- u
- r
- o
- p
- e
- a
- n
- C
- o
- n
- v
- e
- n
- t
- i
- o
- n
- o
- n
- H
- u
- m
- a
- n
- R
- i
- g
- h
- t
- s
- P
- o
- l
- i
- c
- e
- a
- n
- d
- C
- r
- i
- m
- i
- n
- a
- l
- E
- v
- i
- d
- e
- n
- c
- e
- A
- c
- t
- 1
- 9
- 8
- 4
- C
- r
- i
- m
- i
- n
- a
- l
- J
- u
- s
- t
- i
- c
- e
- A
- c
- t
- 2
- 0
- 0
- 3
- C
- o
- n
- t
- e
- m
- p
- t
- o
- f
- C
- o
- u
- r
- t
- A
- c
- t
- 1
- 9
- 8
- 1
- J
- u
- r
- i
- e
- s
- A
- c
- t
- 1
- 9
- 7
- 4
ai analysis
Case Summary
Key Issues
- {"issue_text":"Whether disposal of 45 million shares constituted disposal of \"greater part\" of company assets under s 183(1)(b)","issue_type":"law","dispositive":"yes","related_facts":"Capital held 145,320,000 FML shares; disposed of 45,500,000 shares"}
- {"issue_text":"Whether applicant had locus standi to bring proceedings","issue_type":"mixed","dispositive":"no","related_facts":"Applicant held 3,900 shares initially; shares redistributed after resignation"}
- {"issue_text":"Whether unsigned shareholders agreements bound the applicant","issue_type":"law","dispositive":"no","related_facts":"Two draft agreements not signed; applicant not party to agreements"}
This summary was generated by AI. Use Zalari to read the full judgment.
background
Facts of the Case
Background
The applicant, former CEO of First Mutual Limited, held 3,900 shares (26%) in Capital Alliance (Private) Limited through a management buy-in scheme. After his resignation, Capital Alliance disposed of 45 million First Mutual shares without his consent or general meeting approval. The applicant sought a declarator that this disposal violated s 183(1)(b) of the Companies Act.
Read the full judgment, get AI analysis, and find related cases
Open in Zalari →
Legal Intelligence
for Africa.
for Africa.
Zalari is Zimbabwe and Southern Africa's leading AI-powered legal research platform, built by DeepCounsel and powered by Nyamaropa Technologies. Search Zimbabwe Supreme Court and High Court case law instantly, get AI-generated answers with full source citations, and access the most comprehensive corpus of Zimbabwean and Southern African jurisprudence available online. Zalari is the go-to legal AI platform for attorneys, advocates, law students, judges, and corporate counsel across Zimbabwe and South Africa — delivering faster research, smarter insights, and a competitive edge in legal practice. Zalari does not provide legal advice. Always consult a qualified legal practitioner for advice specific to your situation. © 2026 DeepCounsel — a legal technology company democratising access to legal knowledge in Africa.