The Ghana Stock Exchange (GSE) will suspend the listing status of PBC Limited (PBC) with effect from the end of trading on Wednesday, November 8, 2023.
This is in accordance with Rule 13(1) of the Exchange’s Listing Rules.
In a circular to the Licensed Dealing Members, Investors, amongst others, the GSE said PBC has failed to submit its financial results since the end of its financial year September 2022.
This is contrary to the timely disclosure of information to the market and the listing agreement as per Rule 13(4) (c) and (e) of the Exchange’s Listing Rules, after repeated reminders.
Rules 13(4)(c)(f) 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; whiles 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.
The statement concluded that GSE will thus suspend the listing status of PBC from November 8, 2023, accordingly.