Improve or get delisted – GSE

The Managers of the Ghana Stock Exchange (GES) have given three non-performing companies till the end of December this year to improve their operations or get delisted from the burse.

Managing Director of the Stock Exchange, Kofi Yamoah told Class Business the decision has been necessitated by the defiance of these companies despite several warnings to improve their operations.

Among the affected companies is the Cocoa Processing Company which processes cocoa beans for the market, Aluworks and Pioneer Kitchenware.

Mr. Yamoah maintained that getting non-performing companies off the market would boost trading activities and give other listed companies value for money.

He said: “We did a press release in October 2018 that we had delisted some companies, there were others that we put on the watchlist including the Cocoa Processing Company, Aluworks and Pioneer Kitchenware.

“We have announced information from Aluworks indicating that they are in discussions with existing shareholders to inject new capital and hopefully that will correct the working capital difficulty that they’ve had for so long, and if that happens successfully, then, they will be taken off the watch list.

“The case of Pioneer Kitchenware is not looking so good so if the deadline of December comes and they have still not rectified their challenges, we will have no choice but to take the company off the market…”