Halt plans to launch IPO regarding Agyapa agreement-SP to gov’t

The Office of the Special Prosecutor has advised government to halt plans to launch of an Initial Public Offer (IPO) regarding the Agyapa Royalties agreement.

The OSP in a letter addressed to the Ministry explained that this is to allow his outfit the opportunity to conclude its ongoing corruption risk assessment.

According Mr. Martin Amidu, “the non-submission of the information and documents pending to be submitted by your Ministry.

“The information and documents you supplied concerned mainly the processes for and the appointment of the Transaction Advisors which goes to the root of any corruption risk assessment.”

The Special Prosecutor, in September, began an investigation into the controversial Agyapa Mineral Royalties deal and wrote officially to Parliament requesting for information on the deal.

Mr. Amidu in his recent letter expressed worry over the inability of the Finance Ministry to furnish it with the relevant documents needed to facilitate key aspects of the ongoing investigation.

He has therefore declared that it will be a premature decision to go through with the launch of the IPO without clearing the fine details relating to the SPV.

“This Office wishes to urge you to abide by the results of the corruption risk assessment it is undertaking on the transaction before moving to the launching of the IPO transaction.

“This Office makes this suggestion on the grounds of prudence on your part and to also not give the impression that the mandate of this Office on prevention of corruption is of no consequence to the transaction.”

He is seeking “information and documents relating to the identification and recommendation by the transaction advisors to your Ministry for appointment.”

Aside from that, he wants to be furnished with “a list of other services providers and or underwriters that may be required to complete the transaction as provided in clause 2.2.1 of the mandate agreement amongst others.”

“The legal opinions particularly of the principal legal advisor to the government under the Constitution are relevant to ensure compliance with her recommendations as part of any corruption risk assessment,” the letter said.

By: Rainbowradioonline.com

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