Kobil Tanzania limited which is owned by two shareholders, Kenobil Limited having 99 per cent of the shares and PAT LAI having the remaining one per cent of shares is intended to be purchased by Puma energy as to the cautionary statement released on May 7, 2012 by Jacob Segman who is chairman and Chief Executive officer of Kenokobil.
Thirty two employees who are represented by MM Attorneys are seeking the interim order against the respondent as they believe that the materialization of the said agreement will diversely affect the respondent company’s organizational structure as well as employees of the respondent as far as their contracts of employment are concerned.
They noted that the respondent company’s restructuring poses great risk to the employment status of the applicants as the respondent has neglected to secure the applicant’s employment contracts legally.
They further stated that, despite several attempts to discuss with the respondent with regards to employees’ future after the proposed takeover, all the efforts have proved futile and that is why they decided to file the application. The order of the High Court is expected to be given on July 11 this year.