The National Labor Commission (NLC) has directed all parties involved in the Starwin-Dannex takeover rift to resolve all legal issues on the takeover within thirty days and report to the commission on the second of September,2015.
[contextly_sidebar id=”OTOnqZRnhDnGlivrVUeFhR3H3t4ycppH”]The parties appeared before the NLC yesterday July, 30, 2015 after some staff of Starwin dragged Dannex to the commission for shutting down the company.
New owners of Starwin, Dannex early this month closed down the company after some staff members of starwin refused to allow them to run the firm as well as the looting of products on the premises.
The National Labour Commission however in its ruling yesterday directed that Starwin should remain closed while legal matters over the takeover are being resolved.
Acting Executive Secretary of the NLC Dr. Bernice Wellbeck told Citi Business News workers of Starwin in the interim will be paid while the company remains shut.
“They were saying that they have been locked out and the commission looked at all the issues and said that under the circumstance we cannot order the reopening of the place but they should be paid as if they were working. But counsels for Dannex and Starwin were given up to 31st of August to report back to the commission because there was a problem as to who is in charge of management of the place also considering all the legal battles that was going on.
So they are to report back to the commission after sorting out with the issue of management control of the company’. Starwin Products Limited last year opened an offer to its existing shareholders by offering an additional 333,359,264 ordinary shares.
Dannex which prior to the offer owned 2.69 percent shares in the company acquired 68.64 percent shares following the offer at a cost of over 5 million cedis bringing their shareholding to over 70% which automatically makes them majority shareholder of Starwin.
By: Norvan Acquah – Hayford/citifmonline.com/Ghana