GSE Suspends ACI, Golden Web

Kofi Yamoah – GSE Boss

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

GSE, in a press release issued Monday, said ACI has failed to publish its audited financial statements for the year ended December 2015 and 2016, adding that it has also not conducted an Annual General Meeting (AGM) since July 2015.

In the case of GWEB, the Exchange said it has failed to conduct an Annual General Meeting since June 2011 and was 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.”

It would be recalled that last month, the GSE suspended five companies for failing to adhere to the rules governing their listing.

The companies included African Champion Industry Limited (ACI), Clydestone (Ghana) Limited (CLYD), Golden Web Limited (GWEB), Pioneer Kitchenware Limited (PKL) and Transaction Solutions Limited (TRANSOL) and Cocoa Processing Company.

However, the sanctions on three companies – Pioneer Kitchenware Limited (PKL), Transaction Solutions Limited (TRANSOL) and Clydestone (Ghana), were later lifted due to their rapid compliance.

A business desk report