{"id":348547,"date":"2017-08-28T05:50:27","date_gmt":"2017-08-28T05:50:27","guid":{"rendered":"http:\/\/citifmonline.com\/?p=348547"},"modified":"2017-11-10T10:42:25","modified_gmt":"2017-11-10T10:42:25","slug":"stock-exchange-suspends-trading-for-five-companies","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/08\/stock-exchange-suspends-trading-for-five-companies\/","title":{"rendered":"Stock Exchange suspends trading for five companies"},"content":{"rendered":"
The Ghana Stock Exchange (GSE) will from Monday, August 28, suspend the trading activities of five listed companies on the Exchange.<\/p>\n
The managers of the domestic bourse say the decision is due to the failure of the said companies to meet their continuing listing obligations despite several promptings to do so.<\/p>\n
The five companies are African Champion Industry Limited (ACI), Clydestone (Ghana) Limited as well as Golden Web Limited.<\/p>\n
The remaining are the Pioneer Kitchenware Limited and Transaction Solutions Limited (TRANSOL).<\/p>\n
A statement announcing their suspension and sighted by\u00a0Citi Business News<\/strong>\u00a0indicates that the five companies have failed to meet their continuing listing obligations in spite of several promptings to do so.<\/p>\n The obligations; the GSE explains include; failure to submit financial reports, non-payment of annual listing fees, failure to conduct Annual General Meeting, among others.<\/p>\n According to the Ghana Stock Exchange, the suspension of trading in the said companies will be in force until September 8, 2017 which is the deadline for the companies to rectify the anomalies.<\/p>\n Failure to do so will attract further sanctions as per the GSE listing rules.<\/p>\n The action by the managers of the GSE comes after the suspension of trading if UT shares due to the\u00a0collapse of the bank<\/a><\/strong><\/span>.<\/p>\n