The Ghana Stock Exchange (GSE) has compulsorily delisted Golden Web Limited and Transaction Solutions Ghana Limited from the Official List of the Exchange effective April 3, 2018.
The decisions were based on Rule 13 of the GSE Listing Rules. Under Rule 13(1) of GSE’s Listing Rules, “The Council may at any time and in circumstances as it thinks fit, suspend or cancel a listing and shall do so to protect investors and to ensure an orderly market”.
Among the reasons for which GSE may delist a company is where the financial situation of the company is significantly threatened, as provided under Rule 13(4)(g) of GSE’s Listing Rules; or where the company consistently fails to comply with GSE’s Rules and directives, as per Rule 13(4)(h) of GSE’s Listing Rules.
