Mzwanele Manyi to name Lodidox shareholders

File: Mzwanele Manyi was asked to reveal details about his company's shareholders. Photo: Gallo Images / Foto24 / Theana Breugem

JOHANNESBURG - The owner of Lodidox, Mzwanele Manyi, is expected to reveal details about the company's shareholders on Wednesday. 

This comes after TimesLive media sent a legal letter, demanding to know the shareholders' identities.

 

 

Manyi responded on Twitter, saying he was being harassed because he was black.

 

 

READ: Guptas could avoid tax if they prove loss in ANN7, New Age sale

But, according to the Companies Act, the names of shareholders in a private company must be provided when requested, or the company directors can be criminally charged.

Last week, Lodidox acquired ANN7 and The New Age newspaper from the Guptas' Oakbay investments.

The Guptas loaned Manyi the R450-million to Manyi to purchase both media companies through a vendor financing deal.

 

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