Battle for ABC board leaves JSE bitcoin pioneer with just two directors

Battle for ABC board leaves JSE bitcoin pioneer with just two directors

Four, including interim CEO Stafford Masie, have resigned from Africa Bitcoin Corporation after receiving demands from a majority of shareholders for their removal.

Africa Bitcoin Corporation (ABC), the JSE’s first bitcoin treasury company, has just two directors remaining after the resignation of interim CEO Stafford Masie and three other directors.

This was announced in a Sens notice published on Monday where Masie and three independent directors – Norma Sephuma, Snowy Masakale and GG Alcock – resigned after receiving what are described as “aggressive” demands from the majority of shareholders seeking to remove them.

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The Writer's Room is a curated by Ciaran Ryan, who has written on South African affairs for Sunday Times, Mail & Guardian, Financial Mail, Finweek, Noseweek, The Daily Telegraph, Forbes, USA Today, Acts Online and Lewrockwell.com, among others. In between he manages a gold mining operation in Ghana, and previously worked in Congo. Most of his time is spent in the lovely city of Joburg.