Asante Gold Corporation (ASG) has taken swift action to defend the interests of its shareholders from what it terms a group of “dissident shareholders.” In order to carry out the action, the gold mining company has established an executive committee of its board and hired advisors.
Dissidents
The company provided an explanation for its actions, stating that it believed the dissidents were advancing their own interests and that some of them may have obtained proprietary information about ASG that was not available to all shareholders.
The Stealth Campaign targeted the removal of all but one of the Executive Committee members from the board. According to the press release, the executive committee members were worried that two directors who weren’t members of the executive committee were assisting the dissident group and that their interests might not be aligned with the interests of Asante and its shareholders.
