5 companies suspended by GSE; risk being delisted

The Ghana Stock Exchange (GSE) has announced that five companies having been suspended from trading in shares 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).

According to a statement by the GSE, “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.