JOHANNESBURG (miningweekly.com) – The sacked directors of JSE-listed platinum junior Wesizwe on Thursday withdrew their urgent court application in favour of an airing at an extraordinary meeting of shareholders for which there is still no confirmation.

Wesizwe said, however, that the decision to oust both founding CEO Michael Solomon and Robert Rainer stood.

The urgent application was to have been heard in the South Gauteng High Court in Johannesburg.

Wesizwe said in a Stock Exchange News Service announcement that it had intended opposing the application on the grounds that the removal of Solomon and Rainey was "in the best interests of the company and its shareholders, and that the action taken against the two was procedurally and substantively lawful".

Accordingly, their removal as directors would remain in place, Wesizwe added.

Solomon, explaining the withdrawal of the application to court, told Mining Weekly Online: "In view of the requisition by certain shareholders for a general meeting, and in the best interests of Wesizwe, I have withdrawn my interim court application that was related to an issue that will now be dealt with at the shareholders meeting."

A letter requesting the meeting of shareholders is understood to have been served on Wesizwe on November 9, after which the company is said to have 14 days to inform all shareholders of the request. Thereafter, it has 21 days to give notice of the date and venue of the meeting.

Acting Wesizwe CEO is former financial director Nyasha Tengawarima and Dr Iraj Abedien is the chairperson.

The 52% black-owned exploration and mining company has been under a cautionary announcement since October 27. It is developing the Frischgewaagd-Ledig project and has a deal with Anglo Platinum and Platinum Group Metals of Canada.