Hearts of Oak holds a successful AGM, admit massive financial lapses

Published on: 15 August 2018
Hearts of Oak holds a successful AGM, admit massive financial lapses
Togbe Afede

Shareholders and Board members of Accra Hearts of Oak today at the Civil Servants Auditorium in Accra held its 2016/ 2017 Annual General Meeting to know the state of their club.

Board Chairman, Togbe Afede XIV, opened the ceremony with a comprehensive address detailing the Club’s performance in the 2016/2017 football season, performance of players, a look at the first round of the 2017/2018 season, headwinds, the club’s investment towards a bright future and financial performance

The business magnate further answered questions pertaining to the structure of the club’s shares floatation.

He said the club will soon increase the rights issue from GHs 10m to GHs30m and also make it possible for fans and individuals who could not purchase in the initial offer to do so.

Admitting the club has a lot financial lapses, Togbe Afede XIV said the story will be different since measures are being put in place to make the club financially sound.

Managing Director, Mark Noonan urged all shareholders to be patient and support the leadership of the club as they work to make it a vibrant club.

Meanwhile, Alhaji Moro Briamah, Hon. Vincent Sowah Odotei and Mark Noonan were unanimously confirmed as new members of the board.

Also present at the AGM were Dr. Nyaho Nyaho Tamakloe, Frank Nelson Nwokolo, Justice Ivy Heward Mills and Eric Barimah-Atuahene.