All is safe despite fire outbreak, NTHC assures clients

Accra (Greater Accra), 21st April 

The board and management of National Trust Holding Company (NTHC) Limited, on Wednesday assured its clients, investors and stakeholders in the securities industry that the company's operations have not been stalled by the fire outbreak. NTHC Limited, a leading stock brokerage and investment management company, located in the Dyson House in Accra, was completely destroyed when the building caught fire last Saturday when it was struck by lightning.

At a press conference in Accra, Dr Albert Barnor, General Manager of the Company, said all information on investment and shareholding positions are safe on back-ups files and computer diskettes that were stored off-site at its Martco House Offices in Accra. Describing the situation as "a total loss", he said it is still premature to estimate the loss in figures at this stage but an estimate is about half a billion cedis. He said the company's insurers inspected the building on Monday and are still working on their claims adding that management is still waiting for a report from the National Fire Service to ascertain the actual cause of the fire.

Dr Barnor said NTHC provides share registration and transfer services for SSB Bank Limited, Standard Chartered Bank Ghana Ltd, Fan Milk Ltd, Aluworks Ltd Pioneer Aluminium Factory Ltd, National Investment Bank Ltd, ELF Oil Ghana Ltd . He said an energy management process would start latest by June this year to change the lighting systems of most buildings in the investment industry to forestall future occurrence of such fire outbreaks.

Mr Albert Fiadzigbey, Chairman of the Board of Directors, Properties, said to alleviate the suffering of its shareholders, orders have been placed for dividend warrants, new printers and signing machines to help pay back dividends. This, he said, is expected to take less than a month.

He said circular letters would be sent to all shareholders and brokers to confirm their particulars adding that the company had relocated its operational departments at Martco House behind the Trust Bank to deal with interim procedures like transactions and verifications.

Mr Fiadzigbey advised those who want to buy or sell shares to the company to go ahead without fear or favour since "there is really no problem" and appealed to all stakeholders to exercise restraint while they deal with the situation.