The Western Cape High Court dealt with an urgent Part A application by Lightmap (Pty) Ltd, a minority shareholder in Cybersmart (Pty) Ltd, seeking interim relief about a proposed hosting division disposal to Host Africa and the unwinding of the Hexion joint venture. The court found the matter urgent and ordered that the first and second respondents be interdicted from taking further steps in relation to those transactions pending Part B. It also ordered that costs stand over for determination by the court hearing Part B.
This may be relevant to minority shareholder disputes and corporate transaction approvals involving Cybersmart and the transactions described in the judgment.
Evidence from source
I found that the relief sought in Part A was urgent and that substantial redress would not be available to Lightmap at a hearing in the ordinary course.
Supports: Summary sentence 1: the court dealt with an urgent Part A application.