No show at Starwin’s Extra-ordinary GM

By Dominick Andoh

An Extra-ordinary General Meeting (EGM) of Starwin Products Limited, a local pharmaceutical manufacturer, convened to consider pertinent issues raised by a shareholder, Enviro Solutions Limited, ended after 30 minutes due to the failure of the supplicant to make an appearance.

Enviro Solutions Limited had put forward 11 resolutions to be deliberated upon by shareholders at the meeting.

However, the Board Chairman, Dr. Mensa Otabil, said the Board had received a court order pertaining to the first two resolutions, which sought among other things to surcharge all Directors on the cost of printing and circulating two written statements, titled “Response to Concerns Raised by a Shareholder to Move an Ordinary Resolution to Remove Directors of SPL from Office”, and “SPL to Surcharge all Directors on Additional Cost of Postponing the 2012 SPL AGM from 31/7/12 to 7/11/12”.

Shareholders at the meeting unanimously voted to dismiss the nine other resolutions which were available for deliberation after allowing enough time for a representative of Enviro Solutions Limited to move the resolution for consideration by shareholders.

Starwin Products Limited is the first of two companies in the industry to be listed on the Ghana Stock Exchange, having evolved from Sterlin Products International Limited. The company changed its name to Starwin Products Limited in 1993 when it was taken over by Ghanaian investors.

The company’s products repertoire includes Rapinol, Asmadrin, Milk of Magnesia, Starwin Liver Salt, and Expectolyn Cough Syrup.

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