Ghana Stock Exchange suspends 5 companies

The Ghana Stock Exchange (GSE) has announced the suspension of trading in shares of five companies with effective from Monday, August 28, 2017.

The affected companies are African Champion Industry Limited (ACI), Clydestone (Ghana) Limited (CLYD), Golden Web Limited (GWEB), Pioneer Kitchenware Limited (PKL) and Transaction Solutions Limited (TRANSOL). 

A statement issued by the GSE on Friday August 25, “these companies have failed to meet their continuing listing obligations in spite of several promptings to do so.”

These obligations include; failure to submit financial reports, non-payment of annual listing fees and failure to conduct Annual General Meeting (AGM), among others.

The suspension of trading in the above companies will be in force until September 8, 2017, which is the deadline for the companies to rectify the anomalies.

“Failure to do so will attract further sanctions as per the GSE Listing Rules,” the statement added.