The Ghana Stock Exchange (GSE) will with effect from Thursday, August 15, 2019 suspend the listing status of PBC Limited.
PBC has failed to publish its financial results since the end of its financial year September 2018. The non-publication is in breach of the continuing listing obligations under the GSE Listing Rules.
PBC has also failed to redeem the Tranche P4 of its note program which matured on December 6, 2018.
Part VI of the GSE Listing Rules outlines that a listed company shall comply with the continuing listing obligations and disclosure policy. Failure to do so shall result in the imposition of sanctions by the Exchange.
Specifically, Rules 13(4)(c) and 13(4)(e) of the Listing Rules empower the GSE to suspend listing or compulsorily de-list securities where the company has failed to comply, or is unable, or unwilling to comply for any reason whatsoever with the Exchange’s requirements on continuing listing obligations and also where the company has failed to comply with its Listing Agreement, or other agreements with the Exchange, or has failed to comply with the Exchange’s Rules and disclosure policy as set out in Parts VI and VII of the Rules.
Further information through Press Releases will be published as appropriate.
Issued in Accra, this 13th day of August, 2019.