Investors can’t buy shares in Ayrton, Starwin – GSE

Trading in shares of Ayrton Drugs Manufacturing Limited and Starwin Products Limited has been suspended from today, Thursday, 9 January 2020 until the two are de-listed from the Ghana Stock Exchange on Wednesday, 15 January 2020, the GSE has stated.

This follows the merger between Dannex, Ayrton and Starwin Products announced last week by the GSE.

The suspension means investors cannot trade or sell shares in the two companies during the period.

The share exchange ratio to be applied in the Scheme of Amalgamation will be 3.13 Ayrton Share for 1 Dannex Ayrton Starwin Plc Share and 12.50 Starwin Shares for 1 Dannex Ayrton Starwin Plc Share.

The Scheme of Amalgamation was approved by the Securities and Exchange Commission (SEC) on 12 December 2018 and firmed up by the GSE on 24 December 2019.

Dannex, Ayrton and Starwin are all local pharmacuetical manufacturing firms.