IMC To Take Over Operations Of Adamus Resources?

…As Legal Tussle Drags On

Adamus Resources Limited (the Company) is 90 percent owned by Adamus Australia, whilst the government of Ghana, owns the remaining 10percent shares.

Nguvu Mining Limited registered in Mauritius and owned by Angela List, claims to have acquired the 90percent shares in the Company purportedly from Adamus Australia as depicted by the purported agreement signed on November 7,2022 and exhibited by parties.

The shares transfer referred to above, purports to make Nguvu Mining Limited the majority shareholder (90%) of Adamus Resources Limited per details of the case.

The Defendants to the case, have argued that, Moses Kobina Bosompem, has never lawfully been a director or officer of Adamus Australia at the time he allegedly signed the shares transfer agreement, which was done two weeks to the Supreme Court of Western Australia’s judgment.

Angela List, the CEO of the Company at the time, allegedly brought the case in the name of Nguvu Mining and the Company before the High Court, Accra(Commercial Division 7) on the February 8, 2023, seeking injunction to restrain Allan Morrison, the alleged sole director and secretary of Adamus Australia, from holding meetings in his capacity as purported majority shareholder representative of the Company.

The case commenced after Allan Morrison and Adamus Australia on November 22, 2022,published the judgment of the Supreme Court of Western Australia against Angela List in Ghana, alleging that, she had been removed as a director of the Company, following an Emergency General Meeting.

Lawyers for Allan Morrison, rather secured a restraining order against Angela List and other directors of the Company on July 27, 2023, constraining them from having anything to do with the Company until the final determination of the case.

The Court, has also allegedly ordered a five-member Interim Management Committee (IMC) to direct the management of the Company.

The Ministry of Lands and Natural Resources, allegedly complied with the directive of the Court to appoint Juliet Osei-Wusu (Mrs) as its representative to the IMC on October 5, 2023.

Mr Morrison and Adamus Australia by a resolution dated the July 27, 2023 appointed David Abini and Isaac Ackun, as its representatives to the IMC.

Nguvu Mining, allegedly declined to make their appointments to the IMC.

But following another ruling of the High Court, Commercial Division 7, on February 19, 2024, Nguvu Mining Limited, supposedly forfeited its rights to appoint a member to the IMC, when it declined to do so by February 29, 2024 and to have its appointee’s name filed with the Registrar on the 4th of March 2024 as ordered by the Court.

The acting General Manager (GM) of the Company, has also allegedly forfeited his appointment to the IMC, when he failed to file his appointment with the Registrar of the Commercial Court on March 4, 2024.

The IMC, held its maiden meeting on March 7, 2024, to appoint new lawyers for the Company at the time no appeal or challenge had been made against the ruling of the 19th of February 2024.

The IMC, has called on the acting General Manager to familiarize themselves with the operations of the Company and to put in place prudent measures for a new direction.

The substantive matter is yet to be heard, and until the final judgment is delivered, the Company will be under the control of the IMC.

Source: Anchorghana.com