The Ghana Stock Exchange (GSE) will suspend the listing status of Aluworks Plc (ALW), effective Monday, October 2, 2023
This is in accordance with Rule 13(1) of the Exchange’s Listing Rules.
In a circular to Licensed Dealing Members, Custodians, the general public, among others, the GSE said the decision is because Aluworks has failed to submit its audited accounts for 2022, quarter one and quarter two unaudited financial statements for 2023, contrary to the timely disclosure of information to the market and the listing agreement as per Rule 13(4) (c) and (e), after our repeated reminders.
Rules 13(4)(c) of the Listing Rules empowers 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 with the Exchange’s requirements on continuing listing obligations and disclosure policy.
Rules 13(4)(e) also recommends similar action 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.
GSE will thus suspend the listing status of Aluworks from Monday, October 2, 2023, accordingly.