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Hearts near shares floatation

Accra Hearts of Oak say they have submitted offer documents to Security Exchange Commissions (SEC) in line with steps to complete the floatation of shares of the club. The documents were presented yesterday through lead managers of SEC, Strategic Africa Securities Limited (SAS), in what the club calls "a major step" in their floatation drive. A statement released yesterday and signed by Ashford Tettey Oku, Administrative Manager of the club, said by this specific action, "the club has satisfied a major requirement in the whole floatation process. "Subsequently, the club intend to embark on an educational drive to sensitise all sympathisers and other potential investors before the official launch of the floatation," the statement said. Hearts of Oak are seeking to become the first Ghanaian team to float shares and place the club's destiny into the hands of the average fan after announcing the decision to float shares some me last year. Hearts, champions of Africa in 2000, who went on to win the subsequent Super Cup, as well as winners of the maiden CAF Confederation Cup in 2004, remain one of Africa's biggest sides in terms of support base, tradition and appeal. Source: Daily Graphic

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