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Business News of Thursday, 19 December 2013

Source: TAYSEC

Taysec changes ownership

The Board of Directors, Management and Staff of Taysec Group of companies would like to bring to the notice of the General Public the successful change of ownership of the company.

Following a consent judgment entered on 23rd July, 2013 by the Commercial Division of the High Court of Justice presided over by His Lordship Justice Richard Adjei-Frimpong, Mr.Asuama Yeboa Abebrese, has taken over the entire shares of the other two shareholders of the Taysec Group, making him the sole owner of the Group of Companies comprising Taysec Construction Limited, Taysec Homes Limited and Taysec Facilities Management Limited.

The terms of the consent judgment were effectively based on the Shareholders Resolution of September 2012 that Messrs. Geoffrey Fisher and Liam McVeigh had signed to sell their shares in all the Taysec companies to Mr Abebrese, making him the sole shareholder of the Group.

New Managing Director

Consequently, the Boards of the respective Taysec companies have appointed Mr Abebrese as Managing Director with effect from 24th July 2013. Until the take-over, Mr Abebrese was the Finance Director of the Group. He is a Member of the Chartered Institute of Management Accountants (CIMA) and a Member of the Institute of Chartered Accountants, Ghana (CAGh).

Mr Abebrese has 26years working experience in the construction industry, 22 years of which have been with Taysec. Apart from his role with Taysec in Ghana, he was also responsible for setting up and running the finance and accounting functions of Taylor Woodrow’s subsidiaries in Zimbabwe and South Africa of which he was a director.

Prior to working with Taysec, he held roles with Kwame Nkrumah University of Science and Technology, the Ghana Institute of Management and Public Administration and the construction firm, Messrs A. Lang Limited Mr. Abebrese has played a leading role in the success of Taysec, having served as Financial Director and a member of the Board during his 22 years in the company. Mr. Abebrese will bring his rich industry experience to bear in leading the company in driving its strategy of maintaining its position as a first class construction and real estate firm in Ghana.

Core local and expatriate staff intact


The Taysec Group has maintained its core staff, a motivated local and expatriate management team and a very capable and committed workforce and together will continue to be market leaders with its expertise acquired over 65 years of doing business in Ghana.

Meanwhile, the General Public is advised that Messrs Geoff Fisher and Liam McVeigh ceased to be directors of Taysec Group of Companies with effect from 23rd July 2013 and have subsequently executed deeds of transfer of their respective shares to Mr. Abebrese. Thus Messrs Geoff Fisher and Liam McVeigh have no relationship with Taysec in any capacity and the general public is to note that anybody who does business with them on behalf of Taysec does so at his or her own risk.

We take this opportunity to thank our clients, customers and members of the General Public for their support and prayers during the rather turbulent transition.

The Builder is: TAYSEC with Quality and Excellence.

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