Business

Cocobod angered by WAMCO sale

Cocoa

The Ghana Cocoa Board (COCOBOD) has called on the public to ignore advertisements on the sale of assets of West African Mills Company Limited (WAMCO).

The Sekondi-Takoradi-based cocoa processing firm is said to be undergoing liquidation spearheaded by Fidelity Securities Limited (FSL).

But COCOBOD says it is “without its knowledge, consent and approval and should be ignored”.

A release from the Public Affairs Department of the Board on Monday, June 13 said though it has 40 per cent stake in WAMCO, its conceded suggestion of an official liquidation was kicked against for a majority option of a private liquidation at the last shareholder meeting.

“The issue regarding the nature of the liquidation has therefore not been resolved and same is outstanding.”

COCOBOD, therefore, warns that “any person or institution that enters into such a deal would be doing so at its own peril”.

Source: 3news.com|Ghana

Ttwitter: @3Newsgh

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