South Africa’s Denel says two more board members resign

PUBLISHED: Thu, 25 Feb 2021 15:11:23 GMT

JOHANNESBURG, Feb 25 (Reuters) – South African state-owned defence company Denel said on Thursday that two board members, including chairwoman Monhla Hlahla, had resigned, days after it said several other board members had resigned.

“The recruitment process of the chairperson is underway and the appointment will be communicated to all debtholders in due course,” Denel said in an announcement on the Johannesburg Stock Exchange.

Denel makes military equipment for South Africa’s armed forces and export. It has been in the grips of a liquidity crisis aggravated by the COVID-19 pandemic. (Reporting by Alexander Winning; Editing by Olivia Kumwenda-Mtambo)

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