{"id":18664,"date":"2022-07-04T10:28:51","date_gmt":"2022-07-04T10:28:51","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/post-telecom-minister-cooper-kruah-clarifies-co-ownership-of-universal-forestry-corporation-says-he-turned-over-his-shares-to-his-son"},"modified":"2022-07-04T10:40:07","modified_gmt":"2022-07-04T10:40:07","slug":"post-telecom-minister-cooper-kruah-clarifies-co-ownership-of-universal-forestry-corporation-says-he-turned-over-his-shares-to-his-son","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/post-telecom-minister-cooper-kruah-clarifies-co-ownership-of-universal-forestry-corporation-says-he-turned-over-his-shares-to-his-son","title":{"rendered":"Post & Telecom Minister Cooper Kruah Clarifies Co-ownership of Universal Forestry Corporation; Says He Turned Over His Shares to His Son"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>The Minister of Posts & Telecommunications, Cllr Cooper W. Kruah Sr., has debunked having a current share in the Universal Forestry Corporation (UFC) as speculated in the media in recent days.<\/p>\n

\u201cI want to use this medium to set the record straight that there has been an amended Articles of Incorporation to the Universal Forestry Corporation and I relinquished my share to my son who is also a counselor-at-law,\u201d he said.<\/p>\n

He said his son\u2019s name is on the amended record and even has more share of 15% \u2014 three times of what he owned back in the late 80\u2019s up to the time of his appointment to serve as Minister of Postal Affairs.<\/p>\n

He made the clarification On Friday, July 1, 2022, at his office addressing a few members of the press concerning an allegation of owing share in a company operating in Liberia that is involved with Mining and Forestry. He told newsmen that he had a five percent share in the company dating back to 1985 when he was never a Minister at the time.<\/p>\n

The amended record titled \u201cshareholder\u2019s resolution of Universal Forestry Corporation in the possession states, \u201cBe it resolved, that in keeping with the powers vested in the shareholders of the Universal Forestry Corporation, as in keeping with its Article of Incorporation, the shareholders of the Corporation have agreed and adopted the following\u201d<\/p>\n

The legal instrument further concluded \u201cThat effective as of the signing of this Resolution, Article I of the precious amendment of these article of Incorporation shall be amended to reflect the following: the number of shares and the percentage of share each subscriber subscribed to shall be as follows.<\/p>\n

Mr. Ji S Kyung 70%, Mr. Prince M. Kruah 15 % , Mr. Edward N.. Slanger 10% and Narayan I Vaswani I 5%.<\/p>\n

Partially addressing the issue of conflict of interest, he said, assuming but not admitting he was involved, he is working as Minister of Posts and Telecommunications and is not involved with mining or forestry operations, so he wondered why the writer of the purported story calls it \u201cconflict of Interest\u201d. He stressed the germane issue on hand is the false allegation that he owns a share currently with the company. \u201cThis amendment of the Article of Incorporation is the best evidence for the public,\u201d he stated.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. The Minister of Posts & Telecommunications, Cllr Cooper W. Kruah Sr., has debunked having a current share in the Universal Forestry Corporation (UFC) as speculated in the media in recent days. \u201cI want to use this medium to set the record straight that there has been an amended Articles of Incorporation to […]<\/p>\n","protected":false},"author":84,"featured_media":18663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,12,16],"tags":[233,237,234],"class_list":["post-18664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-policy","category-twitter","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nPost & Telecom Minister Cooper Kruah Clarifies Co-ownership of Universal Forestry Corporation; Says He Turned Over His Shares to His Son - Liberia<\/title>\n<meta name=\"description\" content=\"The Minister of Posts & Telecommunications, Cllr Cooper W. 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