HFC confirms February 17 date to take away three administrators

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HFC Financial institution has lastly confirmed that an Additional  Abnormal Basic Assembly  can be held on February 17, 2015 to take away three administrators from its board.

 The choice by the financial institution follows a ruling Monday by an Accra Excessive Courtroom which threw out an software by one shareholder in search of to cease the assembly.

The courtroom additionally ordered the financial institution to repair  February 17 as the brand new date for the assembly.

Based on the a round issued immediately February 10  by HFC financial institution to its shareholders, the assembly as requested by SSNIT– the bulk shareholder —  can be looking for approval to take away present Chair of  the HFC financial institution board, Muriel Edusei  with quick impact  and two different administrators — Charles Ofori Acquah  and Francis Koranteng.

SSNIT has additionally proposed  the names of three individuals that ought to be thought-about as Administrators.

They’re Ebenezer Tetteh Togoe, Paul King Aryene and Victoria Emeafa Hardcastle.

In line with SSNIT it’s taking this motion as a result of the present board has did not act within the curiosity of shareholders.  

The courtroom battle between HFC and Republic Financial institution of Trinidad and Tobago and the Social Safety and Nationwide Insurance coverage Belief (SSNIT) over the holding of the Extraordinary Basic Assembly intensified this yr after SSNIT referred to as the assembly.

The difficulty first began with allegations of insider buying and selling relating to a takeover bid of HFC financial institution by Republic Financial institution of Trinidad and Tobago.

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