The Vipingo Ridge Limited Shareholders sanctioned the procedural removal of Alastair Cavenagh as a Board member and a director of the company.
The decision was reached following a properly convened shareholders meeting and has been undertaken in accordance with the company’s corporate governance policy, in strict adherence to the national company laws, and in line with their duty to safeguard the integrity and values of Vipingo Ridge.
While confirming the shareholders’ decision, Vipingo Ridge Board Chairman Trevor Finn extended the Company’s appreciation to Cavenagh for his service to the company.
The premier lifestyle and golfing development company located in Kilifi County on the Kenyan Coast, Finn said, is stepping up its corporate development and governance plans.
“As part of the Vipingo Ridge corporate growth strategy, plans are underway to enhance our service offering and expand amenities while continuing to modernize operations.”
“Our talent development and focus on balancing the needs of our stakeholders remain key to the growth of Vipingo Ridge. We are also enhancing our community relations alongside ongoing environmental conservation and sustainability efforts, “said Finn.
Cavenagh is a Kenyan-based rally driver and entrepreneur born in Wales, Great Britain.
He drives in the Safari Rally occasionally, including a second-place finish in 2009, when it was an IRC event.
Cavenagh had sued his co-directors, accusing them of conspiring to throw him out of the multibillion-shilling Vipingo Ridge Golf Estate.
Cavenagh sued co-directors Christopher Gordon Horsey and David Horsey, accusing them of trying to illegally acquire a majority stake in an offshore firm that has interests in Vipingo Ridge.
The Horseys and Cavenagh have a stake at First European Finance Investment (FEFI) Ltd, which is one of the firms that has shares at Sunsail Trading Limited, Vipingo Ridge Limited and Vipingo Beach Ltd-the three firms that own the luxurious five-star golf resort in Kilifi.
He secured a reprieve in a shareholding fight involving control of the company after the Court of Appeal barred his co-directors from dealing in any manner with the shares held.
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