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Low turn out at Hearts of Oak’s AGM

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Togbe Afede – Hearts of Oak Board Chairman

Low patronage clouded the Annual General Meeting (AGM) of Accra Hearts of Oak Sporting Club Limited held on Tuesday in Accra to discuss the current state and future plans of the Club.

The modest attendance was unusual of a gathering, considered the highest decision making forum of the Club, and the fact that it was the first since the decision of the Club to go public.

There were visible pockets of spaces in the main auditorium of the National Theatre, the venue of the event amidst tight security provided by personnel of the Ghana Police Service.

Dozens of the 1662 shareholders were absent for obvious reasons just as three of the 11-member Directors, namely David Lamptey, Managing Director of Sidalco Limited, Professor Kofi Kumado of the University of Ghana and Alhassan Andani, Managing Director of Stanbic Bank Ghana.

For those who turned up, most of them arrived late for the programme that lasted almost four-hours and serves the best platform to discuss issues pertaining to the growth of the Club that prides itself as the first on the continent to float its shares.

A section of the participants told GNA Sports they were unaware of the holding of the event, which had witnessed at least two postponements, with the last being from August 21 to August 28.

In response to the low patronage, Togbe Afede XIV, Chairman of the Club attributed it to the delay in the delivery of printed materials needed for the AGM.

“Our biggest challenge was from the printers,” he said, whilst assuring that it will be an issue of the past in subsequent AGM’s.

The one-day event also saw the unanimous confirmation of the 11-member Board of Directors that also includes Fred Crentsil, Emmanuel Martey Commodore-Mensah, Dr Nyaho Nyaho-Tamakloe, Apiigy Afenu, Frank Nelson Nwokolo, Justice (Mrs) Ivy Heward Mills, Alhaji Braimah Akanbi.

In addition to that, the session also approved a remuneration for the Directors, made up of GH¢150 monthly and GH¢100 per sitting allowances.

Togbe Afede explained that the move is to hold Directors accountable of their stewardship against the sacrificial status previously.

The AGM also unanimously approved the confirmation of Alloh and Partners, as Secretary to the Club.

The meeting also adopted the financial statement of the Club for the year ending August 31, 2011.

Source: GNA

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