GSE suspends ACI and GWEB

The Ghana Stock Exchange (GSE) has, with effect from Monday, September 11, 2017, suspended the listing status of African Champion Industry Limited (ACI) and Golden Web Limited (GWEB).

ACI, according to a statement from the GSE, has failed to publish its audited financial statements for year-ended December 2015 and 2016 respectively.

“ACI has also not conducted an annual general meeting since the last one in July 2015. GWEB has failed to conduct an annual general meeting since the last one held in June 2011 and is also in arrears of its annual listing fee for 2017.

These companies are in breach of the continuing listing obligations under the GSE Listing Rules,” the statement said.

ACI and GWEB were among five companies including Clydestone (Ghana) Limited (CLYD), Pioneer Kitchenware Limited (PKL), and Transaction Solutions Limited (TRANSOL) that had their shares trading suspended three weeks ago due to their failure “to meet their continuing listing obligations in spite of several promptings to do so”.

Whiles the others filed their financial statements and made plans to hold AGMs, GWEB and ACI failed to do so and this has led to their suspension from the local bourse.