NICHOLAS VAN HOOGSTRATEN
HIGH COURT OF ZIMBABWE
HARARE, 9, 10 & 18 July 2018
S. Bhebhe, with him N. Mugandiwa, for the plaintiff
R. F. Mushoriwa, for the defendant
ZHOU J: The plaintiff instituted the summons in casu claiming the following relief against the defendant:
“1. An order compelling the defendant to transfer 167 275 Old Mutual Public Limited Company shares to the plaintiff within ten (10) days of the date of the order being shares which the plaintiff transferred to the defendant in pursuance an asset swap agreement which agreement was cancelled due to the defendant’s breach.
2. Alternatively and in the event that the defendant no longer has possession of the 167 275 Old Mutual Public Limited Company shares, an order for payment of damages equivalent to the market value of 167 275 Old Mutual Public Limited Company shares at the date of judgment.
3. Costs of suit.”
The claim is contested by the defendant.
The plaintiff’s case as pleaded is as follows. In 2008 he entered into a verbal agreement in terms of which the defendant agreed to deliver to him an immovable property at 4 Wroxham Road, The Grange, Harare. In consideration of that the plaintiff would transfer to the defendant 167 275 Old Mutual Public Limited Company shares and 110 000 shares in a company known as PPC. Transfer of title in the property would be registered in favour of the plaintiff upon delivery of the Old Mutual shares. The PPC shares would be transferred to the defendant after the transfer of the