GSE to suspend PBC's listing for failing to submit financial results

The Ghana Stock Exchange (GSE) is set to suspend the listing status of PBC Limited (PBC) effective from the close of trading on Wednesday, November 8, 2023.

This action is in line with Rule 13(1) of the Exchange’s Listing Rules.

The decision was communicated through a circular addressed to Licensed Dealing Members, Investors, and other stakeholders.

The GSE highlighted that PBC has failed to submit its financial results since the conclusion of its financial year in September 2022, contrary to the timely disclosure requirements outlined in Rule 13(4)(c) and (e) of the Exchange’s Listing Rules, despite repeated reminders.

Rules 13(4)(c)(f) empower the GSE to suspend listing or compel the de-listing of securities when a company fails to comply or is unable or unwilling to comply with the Exchange’s requirements on continuing listing obligations and disclosure policy.

Rule 13(4)(e) recommends similar action when a company fails to adhere to its Listing Agreement or other agreements with the Exchange, or violates the Exchange’s Rules.

The GSE concluded that PBC's listing status would be suspended from November 8, 2023, in accordance with the aforementioned rules.