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: 650


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...
Metuh’s counsel calls for arrest of DSS boss...

No more police roadblocks in Bayelsa

Ex-world boxing heavyweight champion Vitali Klitschko knocks out...

I will never disappoint you, Ikpeazu tells Abians...

N29bn fraud: Court admits more exhibits against Nyako,...

Pension arrears should attract interest, Imo pensioners tell...

FG woos American investors, targets $25bn

Akpabio installed Ritman University Chancellor

TechPlus: Organisers unveil plan for 2016 event

Minister says Nigeria to land astronaut in space...

RIGHTSView: AS CORRUPTION AND INSECURITY STIFLE AFRICA’S GROWTH...

Gunmen kill El-Rufai’s Campaign Coordinator

 

Latest News Rethinking Nigeria’s development with Bill Gates, Okonjo-Iweala, By Adele Adeniji Still on Buhari’s verdict on Nigerian youths, By Jerome-Mario Utomi Armed bandits abduct housewives in Kaduna Cybercrime: UK sends 2 Nigerians to prison Brave worshippers capture suicide bomber inside mosque 41 items still banned under Nigeria-China currency swap deal – CBN Pope Francis unveils 14 new cardinals, no Nigerian on the list Anambra to revive over 200 skill acquisition and entrepreneurial centres New HIV infections among pregnant women raise concerns Why Okorocha wants Nwosu to be Imo Governor in 2019, By Collins Ughalaa Certificate Scandal: HEDA asks SFU to investigate Senator Omisore dumps PDP for SDP ahead of 2019

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (344,943 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (341,564 views) Shameless Genevieve Nnaji exposes breasts in public (273,082 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,504 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (204,981 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,477 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,695 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,002 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,035 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,167 views) Lagos plane crash: Journalist releases victims’ names (139,833 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,242 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (40) Business & Economy (3,136) Business Verdict (43) Columnists (853) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (594) Global Business Monitor (273) International (1,964) Interview (149) Live Commentary (28) Love Matters (119) News (35,442) Opinion (953) Pidgin (10) Politics (5,021) Religion (742) Sports (1,512) Stock Watch (28) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

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