Adamus Resources successfully fends off illegal takeover attempt by BCM Ghana

An attempt by BCM Ghana represented by its lawyer, Israel Ackah and accompanied by security operatives from private security firm K9, to forcibly take over Adamus Resources' office premises on Monday, March 25, 2024, was thwarted by the company's security personnel and the Ghana Police Service.

At the heart of this dispute is a legal decision by the High Court of Justice (Commercial Division) on July 27, 2023, an Interim Management Committee was established to manage the day-to-day affairs of Adamus Resources Ltd (“Adamus IMC”).

But speaking in an interview, the Head of Corporate and Legal Affairs for Nguvu Mining and Administration Manager for Adamus Resources, Jonathan Adongo, noted that a request for a stay of execution has been filed against the ruling for the creation of an Interim Management Committee (IMC).

Hence, until the stay of execution is decided on by the court, the ruling for an IMC cannot be enforced.

But it should be noted that the aforementioned ruling is currently under dispute and a request for a stay of execution has been filed to prevent the ruling from taking effect.

In addition, an appeal has been made against the Ruling. Therefore, until the stay of execution is resolved, the Ruling cannot be enforced. It is important to mention that, according to official records, the High Court has not authorized or approved any work carried out by Adamus IMC, and the company’s management is still in the hands of the legally employed officers of Adamus
Ghana.

A clear demonstration of the fact that there is no sanctioned Adamus IMC is a letter issued by the Ministry of Lands and Natural Resources to the Registrar of the High Court, Commercial.

Division dated November 23, 2023. The letter stated, “The Ministry has decided not to appoint a government representative to the I.M.C due to recent developments and after consultations with stakeholders and the regulator Minerals Commission.”

This verifiable revelation raises questions about the accuracy of their claims, particularly regarding the existence and composition of the Adamus IMC. One Isaac Ackon who spoke to the media even failed to provide the names of the committee members. If any such IMC exists who are the members from all sides and why did the Ministry redraw their person?

The disputed ruling on the injunction said that 90% of the shares currently held by Nguvu Mining are being contested by Adamus Australia and the remaining 10% are being held by the Government of Ghana. The application for a stay of execution on the IMC follows a successful appeal against the setup of the IMC by Adamus Resources.

“Adamus Resources appealed against the creation of the IMC and won on the basis that the process for which the IMC was created was not properly done. The company has further applied for a stay of execution on the creation of the IMC and so until that is decided on by the court, there is no IMC,” he told the Journalist.

Stressing again that, according to official records, the High Court has not authorized or approved any work carried out by the IMC, and the company’s management is still in the hands of the legally employed officers of Adamus Ghana.

Speaking further, he noted that in light of the happenings on Monday, March 25, 2024, the company lawyers are taking the appropriate legal steps to deal with the issue, adding that the Security Manager of the private security firm, K9, who is currently in custody of the Police, will help to identify members of the ICM that solicited their services to invade the premises of Adamus Resources.