The battle for Ashanti Goldfields Company (Ashanti) between Randgold and AngloGold is in an advanced stage.
On Wednesday 15 October 2003 the Board of Ashanti voted in favour of AngloGold's takeover proposition. Now it is for the shareholders, Lonmin and the Government of Ghana, to approve the Board's decision. And then of course the Government of Ghana holds a "Golden Share" and may still stand in the way of the transaction if it wants to.
As a concerned citizens of Ghana I want you, the people of Ghana, to say how you feel.
Ashanti - after all - is one of Ghana's proudest assets.
To make sure that the right decision is taken by the Government of Ghana. The decision that will be in the best interest of Ghanaians in the long term.
Why am I doing this? When I read this, I realised that all the facts may not be known to all the parties...
"Anger and frustration over Anglo's history of manipulation and irresponsibility has led NGOs to take their case against Anglo to the United Nations and the Organization for Economic Cooperation and Development (OECD). " --->
You be the judge, or decision maker
The following people have a stake in this decision.
The shareholders have to vote and approve the Board's recommendation.
Lonmin - They don't give a damn
Holding 28% odd shares, has already given their vote to Anglo. Why? Because they want to divest. They want to get out of Ashanti. They do not care 1% about the future of Ashanti. According to them Ashanti can go down the drain. All they want is to sell their shares. And they think they can sell it quicker if they get AngloGold shares.
And more importantly, through their publicly stated position that they will not accept a Randgold offer unless it is a cash offer, they (or is it Anglo) have rendered both the Board of Ashanti and the Government of Ghana powerless. In effect this joint manipulation by Lonmin and Anglo has resulted in a scenario that says: It's either Anglo, or its nobody!
The Government of Ghana
The Government has not made a call.
The Government of Ghana
They hold a "golden share". In other words, they can veto any decision.
The people of Ghana - You! We!
We will have to live with this decision. Our children will have to live with this decision. Our grandchildren will have to live with this decision. Like the people of Zambia have to live with environmental destruction after 70 years of Anglo's "plundering of their piece of the Earth".
You be the judge!!!!
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