'The board wishes to inform stakeholders that Mr Moyo has, on June 17 2019, been given notice of termination of employment.'
However, in the second half of 2018 board members requested a report on his related-party transactions, and this led to"various concerns", including two declarations of ordinary dividends by NMT Capital during 2018, with Moyo's share being R30.6m.
"The board has not been provided with an acceptable explanation why, in clear contravention of the relevant preference share agreement with Old Mutual as well as Mr Moyo's employment obligations, ordinary dividends were declared whilst debt to Old Mutual was outstanding," the group said.ultimately decided there was"a material breakdown in trust and confidence in Mr Moyo".
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