Dannex-Starwin Pharmaceutical Nick Amarteifio takes over from Mensa Otabil as Board Chairman

Workers of StarWin Ghana have demonstrated against the board for fraudulent sale to Dannex Pharmaceuticals

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Nick Amarteifio

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Nick Amarteifio has been named as the new board chairman of Dannex – Starwin.

Nic Amarteifio prior to the move was the board chairman of Dannex.

His new position follows the merger of Dannex and Starwin Products Limited into one entity known as Dannex – Starwin.

The merger follows the conclusion of the renounceable rights issue of Starwin Products Limited which led to Dannex becoming majority shareholder of Starwin.

Dannex prior to the renounceable rights issue owned 2.69 percent shares in the company but now owns 68.64 percent stake in the company at a cost of 5,566,802.16 million cedis.

Nick Amarteifio takes over from Rev Dr. Mensah Otabil who prior to the move was the board chairman of Starwin Products Limited.

Rev Dr. Mensah Otabil still remains a member of the board.

Shareholders of the company at an Extra Ordinary General Meeting (EGM) at the instance of Dannex Limited, the majority shareholder at the GNAT Hall, Accra on Wednesday, 8th July, 2015have also voted for the removal of four of its board members with immediate effect.

Board members that were removed from the board are Dr. Albert Gyan Boohene, Mr. Justice Awuku-Sao, Mr. Samuel Anthony De-Abba  and Dr. Esther Oduraa Ofei-Aboagye.

Following the removal the constitution of the new board has the following as members.

Mr. Nick Amarteifio, Mr. Yaw Opare-Asamoah, Dr. Barima Afrane, Mr. Alex Bonney, Ms. Amarteokor Amarteifio and Mr. Samuel Atta-Mensah.

His (Nick Amarteifio) appointment comes after workers of StarWin Ghana Limited accused the board of the company, headed by Dr. Mensa Otabil of overseeing what they say is its fraudulent sale to Dannex Pharmaceuticals.

The workers who picketed at the company's premises earlier today are asking the board to follow due process in the transaction.

The staff say the uncertainty about their jobs, does not help productivity.

(Additional files from Citifmonline)

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