Adamus Mining Still Shipping Gold Without IMC’s Approval, Disregarding Court Order – IMC Alleges | General News

Background

Adamus Mining, a company 90% owned by Adamus Australia, was purportedly purchased by Nguvu Mining Limited, a company registered in Mauritius, which sparked a chain of legal battles after the defendants (Adamus Mining) argued that Moses Kobina Bosompem had never lawfully been a director or officer of Adamus Australia at the time he purported to have signed that November 7, 2022, share transfer agreement, which was done two weeks before the Supreme Court of Western Australia delivered its judgment against Angela List, a 90% shareholder in Nguvu Mining Limited).

Angela List, the CEO of the company, initially commenced an action in the name of Nguvu Mining before the High Court, Accra (Commercial Division 7) on February 8, 2023, seeking an injunctive relief to restrain Allan Morrison (the sole director and secretary of Adamus Australia) from holding meetings in his capacity as the 90% majority shareholder representative of the company.

This was after Allan Morrison and Adamus Australia had also caused the publication on November 22, 2022, of the judgment of the Supreme Court of Western Australia against Angela List in Ghana, announcing that she had been removed as a director of the company following an emergency general meeting sanctioned by him.

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

Due to these legal battles, the Court ordered for a five-member Interim Management Committee (IMC) to direct the management staff of the company.

The Ministry of Lands and Natural Resources complied with the orders of the Court and subsequently appointed Juliet Osei-Wusu (Mrs) as its representative to the IMC on October 5, 2023. Mr. Morrison and Adamus Australia followed suit through a resolution dated July 27, 2023, and duly appointed David Abini and Isaac Ackun as its representatives to the IMC.

Nguvu Mining, however, refused to make their appointments to the IMC and resorted to challenge meetings called either by the government representative or the Defendants representatives.

Following another ruling of the High Court, Commercial Division 7, on February 19, 2024, Nguvu Mining Limited forfeited its rights to appoint a member to the IMC when it failed to duly appoint a representative on February 29, 2024, and to have its appointee’s name filed with the Registrar on March 4, 2024, as ordered by the Court.

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

Despite these acts the IMC held its maiden meeting on March 7, 2024, to appoint new lawyers for the company at a time when no appeal or challenge had been made against the ruling of February 19, 2024. The IMC then called on the acting GM to familiarize themselves with the operations of the company and to put in place prudent measures for a new direction.

Since the substantive matter is yet to be heard and until the final judgment is delivered, the company will be under the control of the court-imposed IMC.

However, the defendants have expressed concerns before the Court by filing a number of applications for interlocutory injunctions to ensure that gold mined by the company are directed by members of the IMC for all revenue to be accounted for while members of the board remain restrained.

In a surprising turn of events, on January 16, 2024 Angela List on behalf of her Company Nguvu Mining Limited, wrote to the Attorney General of Ghana to make a request for the AG to intervene in the ongoing litigation, particularly to seek the AG’s advice in respect of the pending applications for injunction before the High Court, though the Government of Ghana is not a party to the suit.

We are also raising concerns about the disregard of the Court’s order for the IMC to handle affairs and profits accruing from the operations of Adamus Mining Limited.

We have, with great distress, chanced upon several gold shipping deals currently being carried out under Adamus Mining Limited’s name without the authority of the Court appointed Interim Management Committee.

Therefore, we are, by this letter, causing all parties involved in this act of disregard for the High Court’s directives to cease and desist from engaging in any further action or face a contempt action to be instituted at the High Court should the said action continue.