Major shareholders should form Hearts' board - Minister

Published on: 01 August 2011

By Ameenu Shardow

Major shareholders should be the ones to serve on the board of Hearts of Oak, E.T Mensah has said.

The Accra-based club released an initial 20 million share offer to the public on Monday and the Employment Minister wants only people who put in their money to take critical decisions for the club.

“I would urge there be a cap of maximum shares one could buy and only those who buy more should be allowed to serve on the board,” the ex Sports minister alluded at a ceremony to mark the commencement of share sales in Accra.

“It should be a basic qualification for board membership, they should put their money in the club before they are allowed to steer the affairs of the club.”

Hearts of Oak becomes the first Ghanaian club to open its ownership to the public and the public offer lasts until August 29.


  • Mr.N
    says: 8 years ago
    As for this one I agree with Uncle E.T Mensah no shareholder no board membership.
  • Sammy Heywood Okine
    says: 8 years ago
  • Nicholas Charway
    says: 8 years ago
    i agree partial with E.T is he saying if we have 10,000 shareholders all of them shd serve on the board?what if we a true Phobian and has what it takes to serve on the board and he is not a shareholder?the shareholders must be allowed to appoint board members for the board to account for their stewardship at the end of every yr.every board member must stand for re-election at the end of the yr non performing board members must be kick out at the AGM
  • fred genuwine
    says: 8 years ago
    i dey doubt sey some one serious will ever buy share from this firm , which even dont have any asset, make you come make give you money to run this rubbish team atleast it will be better like my 3rd division team in Assin Fosu
  • kassbak
    says: 8 years ago
    Dzi wo fie asem. wo ati???
  • nii okang
    says: 8 years ago
    well said ET-PHOBIA THE BEST
  • Obi Ba
    says: 8 years ago
    Yes, a manufacturing company with over 100 years existence without a factory? (Don't forget, Hearts is a football club and football is played at stadiums. Hearts has none), never made profit? starting selling shares 'fraudulently' - who are the existing shareholders? How did they get those shares? From whom did they buy them? Or they were adults 100 years ago to establish Hearts? Or they inherited the shares from their grand parents? I bet you, this IPO will be a flop. They can't raise a quarter of the projected.