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25.03.2004 Business & Finance

Kotoko To Be Listed On Stock Exchange

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Accra, March 24, GNA - After barely fifteen days of assuming the chief executive position of Kumasi Asante Kotoko, Major (rtd) Lawrence Yaw Ampene Larson has disclosed that his club will soon be joining the stock market.
Mr Larson told the GNA Sports that his outfit will soon float shares which will enable the club join the stock exchange market in his quest to inject professionalism into the day to day administration of the club.
The Chief Executive hinted that he was in constant talks with Data Bank in order to equip himself with the necessary information to ensure the smooth running of his vision.
Major Larson said since his vision requires the necessary structures capable of attracting potential investors, he was seriously looking for ways and programmes that will make Kotoko attractive in the medium to long term period.
He conceded that it is a Herculean task in joining the stock market and sustaining gains and therefore declared his willingness not to rush into the venture without adequate information.
On other issues, the retired Major hinted the stressful nature of his job but expressed optimism that things will ease up as soon as the right appointments are made.
Apparently referring to the composition of his management team as required by the Board, the Chief Executive said he was seriously looking out for the right people capable of turning the fortunes of the club around.
"I obviously need time to make the right appointments that will benefit the club in every step along the way' he stressed. He disclosed his willingness to distance himself from what he described as the past unprofessional appointments that were done without any job descriptions and knowledge of the fundamentals of the job among others.
When quizzed about his possible candidates to constitute the body, Major Larson said he has received many suggestions from various quarters and added that, " I don't need just any body but people who have the character to forge ahead with me".
He said, however, that he was currently working closely with the team that was named last week towards their African Champions League campaign as they play as guest of their "old adversaries", ASEC Mimosa of Ivory Coast early next month.
Commenting on the size of the playing body of 52, the Chairman said the technical committee has been charged to reduce the size of the team and submit a favourable report with regards to its finances.
He said though the technical report was not yet out, he will be willing to work with at least 30 capable players instead of the current big size which he hinted was putting financial constraints on the club. The chairman said while some of the players will be put on transfer, others will be loaned to other clubs to assists them mature into characters that can fit into the clubs' future set up.