HEALTHPLUS SAGA: “EQUITY FIRM LACKS POWER TO REMOVE CEO”

Lawyers to HealthPlus have stated that Alta Semper Capital, a British foreign private equity firm (PEF), lacks the power to remove the CEO.

Lawyers to HealthPlus, the pharmaceutical retail firm at the centre of a running hostile takeover drama, said that Alta Semper Capital, a British foreign private equity firm (PEF), lacks the power to remove Olubukunola George as Chief Executive Officer (CEO) and founder of the company.

The lawyers made their position known in a letter addressed to the equity firm on its announcement, on Saturday, that it had terminated the appointment of George and appointed Chidi Okoro as Chief Transformation Officer (CFO).

The solicitors, AO Muoka & Co, said the action of the PEF is a flagrant disregard for the court as George had, in May, 2020, instituted a suit with number- FHC/L/CS/609/2020 – in which she has pending a motion for interlocutory Injunction seeking to restrain Alta Semper from removing her from office among other things.





https://theconscienceng.com/healthplus-saga-equity-firm-lacks-power-to/

This is serious