INVESTPRO LIMITED vs. MANDUMO INVESTMENT HOLDINGS (PTY) LIMITED, PROTEA COIN GROUP AND PROTEA COIN GROUP GHANA LIMITED

The 3rd respondent is an incorporated company in Ghana which offers security services to various companies and institutions in the country. In May 2013, the applicant, a limited liability company, which holds thirty percent (30%) of the shares of the 3rd respondent filed an originating motion for reliefs under section 218 of the Companies Act, 1963 Act 179. The said motion sought reliefs against the 1st and the 2nd respondents herein who together hold seventy percent (70%) of the shares in the 3rd respondent company. In the course of the proceedings, the parties agreed that they could no longer work together and that the 3rd respondent should therefore be valued in order that one party buys out the shares of the other. The court therefore appointed KPMG to value the 3rd respondent. The valuation was accordingly done and a report, dated October 2015, was submitted to the court. The applicant and the respondents have both expressed an interest to buy the shares of the other party. A...