NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
Ghana Stock Exchange puts 3 firms on delisting watch list

By Kwasi Kpodo on 28/12/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 614


The Ghana Stock Exchange (GSE) has put on its watch list three distressed companies including Cocoa Processing Company (CPC) for possible delisting if their financials do not improve by the end of May, the exchange said on Wednesday.

State-run CPC, known for its flagship ‘Golden Tree’ products, currently operates at less than half of its annual capacity of 64,500 tonnes.

Ghana, the world’s second largest cocoa producer after Ivory Coast, is aiming to process at least 50 percent of the beans.

CPC said in August it needed at least $300 million to revive its operations. A senior official declined to comment on the GSE’s threat to delist the company.

The GSE in August suspended trading in the company’s shares for two weeks after it failed to submit financial reports or to conduct annual general meeting despite several promptings.

Also on the watch list is Aluworks Ghana Limited, a West Africa-wide aluminium raw material supplier, currently operating at around a third of its 30,000 tonnes capacity due to lack of funds.

Its Managing Director Kwasi Okoh said the company had instituted measures to balance its finances before the May deadline. “The outlook is clear and by May, all of this would have been resolved,” he told Reuters.

The Exchange is also watching Information Technology service provider Clydestone Ghana for a possible delisting because of its weak finances.

Clydestone also has operations in Nigeria and Kenya, where it provides electronic services such as payment platforms and third party processing to financial institutions.

Tina Satuh, corporate communications manager, declined to comment on the GSE statement, saying management had yet to discuss the issue. (Reuters)

 

Source News Express

Posted 28/12/2017 11:26:02 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Breaking News: IYABO Obasanjo’s bombshell: ‘I STAND BY...

Commission promotes 260 senior police officers, IGP to...

Berger traders rendered helpless as Lagos Govt. demolishes...

IN POLICE NET: Fleeing Lebanese who battered pregnant...

Arepo explosion: NNPC shuts product supply to put...

ATIKU, THE UNELECTABLE, By Emeka Ugwuonye

‘Anambra guber election a clash of titans’ •Transform...

Lere Olayinka, a purveyor of fake news, fictitious...

War on Terror: NAF promotes Airmen to the...

Politicians hijack Amnesty programme for ex-militants

Bayelsa budgets N295bn for 2018

Stop representing PDP, Sheriff tells Gana

 

Latest News Reps call for Buhari's impeachment over $496m aircraft scandal Police re-arrests Dino Melaye in hospital Naira appreciates against Dollar at parallel market CBN injects $210m into FOREX Market Former governor remanded in EFCC custody over N5.7 billion fraud Lagos records revenue increase in first quarter Sex-for-marks: What Monica Osagie told panel NIMASA inaugurates, deploys 120 marine marshals Chinese developers set to invest in Nigeria Okowa orders demolition of illegal structures within Asaba airport Drunk NDLEA officer kills civil servant with machete in Lagos IGP keeps mum on Melaye, commissions police estate

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (339,825 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (334,829 views) Shameless Genevieve Nnaji exposes breasts in public (267,929 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (220,328 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (202,178 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (198,240 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (172,944 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (155,303 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (147,194 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (139,120 views) Lagos plane crash: Journalist releases victims’ names (136,978 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (129,655 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (36) Business & Economy (3,074) Business Verdict (40) Columnists (836) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (484) Features (569) Global Business Monitor (264) International (1,927) Interview (149) Live Commentary (28) Love Matters (116) News (34,727) Opinion (916) Pidgin (10) Politics (4,811) Religion (724) Sports (1,485) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

NLNG Science and Literature Prize Awards

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement