Business News of Thursday, 15 February 2018
Source: Myjoyonline.com
2018-02-15
The three will be delisted if they fail to meet some listing requirements
The Ghana Stock Exchange says it would delist Aluworks, Pioneer Kitchenware and Cocoa Processing Company by May this year if they fail to meet some listing requirements.
Managing Director of the Ghana Stock Exchange, Kofi Yamaoh said, “So far we have those that we’ve put on the watch list…those that we’ve signed on to delist by the end of March, the deal is done. I mean it’s completed.
But for those on the watch list, yes, we have visited all of them to learn at first hand their plans towards turning around the companies,” he added.
Mr Yamoah said, “We only indicated that we’ve put them on a watch list. The idea of the watch list is essential to say that – we want you to tell us your plans for turning around the company.”
Managers of the Exchange last year disclosed that it was working to remove four companies, for poor financial performance and inability to hold Annual General Meetings.
The companies then, included Aluworks, Cocoa Processing Company and Clydestone Ghana.
It, however, noted that Golden Web would be delisted by end of March this year.
There are calls on the GSE to hold on with this move because of the negative impact on the market.