Fidelity bank banner UBA banner
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: 858


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

 

You may also like...
Hajj pilgrims stranded as aircraft develops fault in...

Jonathan orders closure of all borders until after...

Buhari’s jihad on ‘herds-media’, By Fredrick Nwabufo

Pharmacists destroy N452m worth of drugs

Osinbajo meets northern leaders, spits fire over quit...

Anti-graft agency seizes Kano ex-commissioner’s hospital over alleged...

APC accuses PDP of plot to sabotage anti-corruption...

Tears, as Orits Williki, Okoroji, others pay last...

Varsity don identifies cause of Boko Haram insurgency...

N1bn fraud case: ICPC makes final presentation against...

FIFA U-17 World Cup: Defending champions Golden Eaglets...

Kogi Govt. worries over drug addiction among youths...

 

Latest News BREAKING NEWS: Ex-Head of State Ernest Shonekan reported dead Senate rejects inclusion of South East reps in Security Council Buhari support group accuses three governors of sabotage University don commits suicide in Benue Army Chief announces Operation Crocodile Smile III, states objectives Outcry over alleged imposition of the son of Aisha Buhari’s aide as APC candidate Military gives militia December to vacate Benue, Taraba, Nasarawa 2019: Picking Peter Obi will not make Yorubas vote against Atiku — Ajulo Court grants SERAP leave to compel Fashola over ‘N900bn spent on power privatisation’ 2019: Anambra leaders, Ohanaeze assure Atiku of South East support Release of looters’ list didn’t violate rights: Court Kaduna crisis: 24 hours curfew relaxed in parts of metropolis

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (409,338 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (383,803 views) Shameless Genevieve Nnaji exposes breasts in public (316,237 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (259,996 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (238,601 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (225,048 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (204,995 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (186,422 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (171,308 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (166,444 views) Lagos plane crash: Journalist releases victims’ names (162,139 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (149,811 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (70) Business & Economy (3,708) Business Verdict (52) Columnists (949) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (561) Features (660) Global Business Monitor (305) International (2,568) Interview (165) Live Commentary (28) Love Matters (145) News (39,858) Opinion (1,127) Pidgin (13) Politics (7,372) Religion (885) Sports (1,740) Stock Watch (35) AMA & Al Jazeera Global Update

 

NLNG Prize for Literature 2018

Zenith Zero Balance

CBN banner

Firstmobile banner

 

 

 

NEWS EXPRESS TV

LIBYA vs NIGERIA 2-3 Goals Highlights

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement