Effective November 8, 2023, the Ghana Stock Exchange (GSE) is poised to suspend the listing status of PBC Limited (PBC) in accordance with Rule 13(1) of the Exchange’s Listing Rules.
The decision was conveyed through a circular directed at Licensed Dealing Members, Investors, and other concerned stakeholders.
It emphasized that PBC failed to provide its financial results following the close of its fiscal year in September 2022, contravening the stipulations for timely disclosure outlined in Rule 13(4)(c) and (e) of the Exchange’s Listing Rules, despite repeated reminders.
Rules 13(4)(c)(f) grant the GSE the authority to suspend a listing or mandate the de-listing of securities when a company fails to comply with, or is unable or unwilling to meet, the Exchange’s requirements for ongoing listing obligations and disclosure policy.
Rule 13(4)(e) recommends similar measures when a company disregards its Listing Agreement or other agreements with the Exchange or violates the Exchange’s Rules.
In accordance with these regulations, the GSE has determined that PBC’s listing status will be suspended from November 8, 2023.