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Fortiz Now Legal Owners Of Merchant Bank   
 
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03-Jan-2014  
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Fortiz Private Equity Fund has announced that it is now the legal and registered owner of 90 per cent shares of Merchant Bank.

In a statement signed by Head of Corporate Affairs, Merchant Bank Ghana Ltd, Clementia Djameh, said this follows the full payment for shares of Merchant Bank (Ghana) Limited by the transfer of funds held at the Bank of Ghana into the operating account of Merchant Bank (Ghana) Limited.

Below is the full statement

PRESS RELEASE : MERCHANT BANK GHANA LIMITED


Following the full payment for the shares of Merchant Bank(Ghana) Limited by the transfer of funds held at the Bank of Ghana into the operating account of Merchant Bank( Ghana) Limited we confirm and inform the general public that FORTIZ Private Equity Fund has now received the corresponding share certificates for its share subscription. Officially thus, as at today, FORTIZ Private Equity Fund is now the legal and registered owner of 90 per cent of Merchant Bank (Ghana) Limited. The shareholding structure of Merchant Bank (Ghana) Limited is as follows:

FORTIZ Private Equity Fund. 90 percent
SSNIT. 8.96percent
SIC Life. 1.04Percent

In delivering the objective of providing the appropriate resources to ensure a full turnaround of the bank, a new board has been constituted and officially approved by the Bank of Ghana as follows:


Mr. Noel Addo. Executive Director
Ms. Nilla Selormey. Managing Director and Chief Executive Officer.
Madam Kay Simmons Non Executive Director
Mr. Ernest Asare. Non Executive Director
Mr Afotey Odarteifio Non Executive Director
Dr. Alhassan Iddrisu Non Executive Director
Mr. Issa Anafure Non Executive Director

Mr. Stephen Antwi-Asimeng also joins the team as the Chief Operating Officer for Merchant Bank Ghana Limited and will be part of the leadership team working with the MD/CEO to lead Merchant Bank into a successful future.

We have every confidence in the new direction and remain committed to building a successful business for stakeholders.


Signed

 
 
Source: Clementia Djameh - HEAD CORPORATE AFFAIRS - MERCHANT BANK
 
 

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