In a landmark ruling, the Supreme Court of Western Australia confirmed the illegality of actions taken by former Adamus Resources Ltd CEO, Angela List.
The court found that List had tried to seize her husband’s interest in the company and unlawfully replaced directors without proper procedure in both Ghana and Australia.
This led to her removal as CEO by a majority vote at an Extraordinary General Meeting of shareholders and directors on February 3, 2023.
The court emphasized that List’s actions were a clear violation of due process in both jurisdictions.
The parent company and shareholders deemed her actions to be against the best interests of the company, leading to her ousting as CEO.
Angela List Removed as Adamus Resources Limited CEO
The Supreme Court of Western Australia has made a final determination on the ownership and control of Adamus Resources Ltd., and confirmed the illegality of actions taken Ms Angela List, the former Chief Executive Officer.
As a result of the ruling, which was delivered in December 2022, an Extraordinary General Meeting of Adamus Resources shareholders and director of the Australian registered parent company, Adamus Resources Pty Limited, held on 3rd February 2023, formally removed Angela List as the CEO of Adamus Resources Ltd. By a majority decision.
The court, in its ruling had found that Ms List had tried to ‘expropriate’ her husband’s interest, and unlawfully attempted to remove the current director of the Adamus Resources Limited Australian registered parent company and replace him with her nominees without having any proper board meetings or following due process in both Ghana and Australia.
This followed her unlawful appointment of directors to the board of the Ghana subsidiary, again without following due process under Ghanaian law or with approval from the Australian parent company.
The Supreme Court of Western Australia was quite clear in its ruling that Ms List had acted unlawfully when removing and appointing directors in both jurisdictions.
The parent company board, and its shareholders felt that her actions had made her continuing to act as Adamus Resources Limited, Ghana, CEO, untenable, and not in the best interests of the company.
Source: norvanreports.com