Institutes Interim Management Committee for Adamus Resources Ghana Limited Amid Legal Dispute…
The court is expected to take decisive action in response to the ongoing legal dispute involving Adamus Resources Ghana Limited by appointing a five-member Interim Management Committee. This committee will be tasked with overseeing the day-to-day operations and management of the company until a final resolution is reached in an ongoing case currently at the superior courts.
The move comes after the Accra High Court restrained Angela List and others from holding themselves out as Directors of Adamus Resources Ltd.
Furthermore, Angela List’s attempt to challenge appointments she made to the board of Adamus Ghana using her firm Nguvu Mining Limited was met with opposition, leading to a court order to halt her actions.
The legal battle according to court documents sighted by NorvanReports stems from November 2021 when Adamus Australia discovered that Angela List had appointed two additional Directors to the board of Adamus Ghana without calling a shareholders’ meeting. Allan Morrison, a director of Adamus Australia, subsequently called for an Extraordinary General Meeting (EGM) to remove Angela List as a director, but she and the said secretary to the firm Sarpong Odame refused to convene the EGM.
The Supreme Court of Western Australia, in Case No. WASC 454, found that Angela List’s actions in November 2022, attempting to replace Allan Morrison with Moses Kobena Bosompem and transferring Adamus Australia’s 90% shareholding to Nguvu Mining Ltd, were unlawful.
As a result, Adamus Australia is currently defending itself in Ghana against board resolutions signed by Angela List, and the other board members.
With Adamus Ghana being 90% owned by Adamus Australia, and the Ghanaian government holding the remaining 10% stake, the court has ordered the parties to appoint a representative from both sides of the dispute to chair the Interim Management Committee.
The committee will ensure the smooth functioning of Adamus Resources Ghana Limited during the course of the legal proceedings, safeguarding the interests of all stakeholders involved.
The appointment of the Interim Management Committee is expected to bring stability to the operations of Adamus Resources Ghana Limited while the legal dispute is being resolved. The committee members, yet to be disclosed, will play a crucial role in guiding the company through these challenging times and upholding corporate governance standards during the period of uncertainty.
As the case unfolds, the financial world will be closely monitoring the developments surrounding Adamus Resources Ghana Limited, a company with significant economic implications for both Ghana and its shareholders.
Investors, industry analysts, and stakeholders await further updates on the outcomes of the legal proceedings and the actions of the newly appointed Interim Management Committee.
