PR. No 334/2017 NOTICE OF COMPULSORY DELISTING OF UT BANK LIMITED

It is announced for the information of the general investing public that the Ghana Stock Exchange (GSE) has compulsorily delisted UT Bank Limited from the Official List of the Exchange effective September 14, 2017. 
 
The Council of the GSE at its meeting held on Monday, September 4, 2017 passed a resolution to compulsorily delist UT Bank Limited from the Official List of the Exchange.  This follows the revocation of the licence of UT Bank by Bank of Ghana on Monday, August 14, 2017.  
 
The GSE’s Listing Rule 13(4)(a), states that “the Exchange may suspend listing, or compulsorily delist securities where the company has sold, or otherwise disposed of its principal operating assets, has ceased to be an operating company, or has discontinued a substantial portion of its operation or business without shareholders’ authorization”.   
 
In reference to paragraph three above, the revocation of the licence of UT Bank Limited means that, the bank has ceased to be an operating company, hence the compulsory delisting. 
 
Shareholders can contact the Receivers (Messrs. Vish Ashiagbor and Eric Nipah, c/o PricewaterhouseCoopers Ghana). 
Issued at Accra this  14th  day of September, 2017.