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01.10.2019 General News

PDS Fiasco: I Don't Own Shares — Oteng Gyasi

By News Desk
PDS Fiasco: I Don't Own Shares — Oteng Gyasi

The Managing Director of electrical cable manufacturing company, Tropical Cables and Conductors Limited has denied claims he owns shares in Power Distribution Services (PDS).

Tony Oteng-Gyasi said the claims that he has acquired shares in the company after its takeover of the Electricity Company of Ghana, are untrue.

Speaking on TV3s Time with the Captains, Dr Oteng-Gyasi said while owning that amount of shares would have been good, “unfortunately, I don’t have it.”

He added “I wish somebody had made me a formal offer. PDS is a privately owned company and it is only the owners of PDS who can make an offer to another person like myself to become part of it.

“Until they make me that offer, I don’t have it,” he said.

Following the suspension of the government of Ghana’s contract with PDS, it was alleged that there was confusion over who would control the company.

A Herald Newspaper report suggested the confusion was so fierce that there were attempts to redefine the shareholding structure and composition of the consortium with the introduction of companies such as; TBK World Plus Limited to be entitled to 15% and Tony Oteng-Gyasi also to be awarded 15% while the state-owned Ghana Infrastructure Investment Fund to be entitled to 10 percent.

But Dr Oteng-Gyasi said the report is not true.

Anyone who doubts this, he said, is free to check with the Registrar Generals Department to establish who the real shareholders and directors of PDS are.

He, however, added that “if I am made an offer, I will consider it very seriously and I will give conditions for joining that company just like any company that I am invited to join.”

In the interview, Dr Oteng-Gyasi also gave his views on politics and whether or not business people in the country should have political affiliations.

Watch the video below:

---Myjoyonline

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