By 
Effective Monday, October 2, 2023, the Ghana Stock Exchange (GSE) will suspend the listing status of Aluworks Plc (ALW) in accordance with Rule 13(1) of the Exchange’s Listing Rules.
This decision comes as a result of Aluworks’ failure to submit its audited accounts for the year 2022, as well as quarter one and quarter two unaudited financial statements for 2023. This non-compliance goes against the principles of timely disclosure of information to the market and the terms of the listing agreement, as specified in Rule 13(4) (c) and (e), despite repeated reminders from the GSE.
Rule 13(4)(c) of the Listing Rules empowers the GSE to suspend or compulsorily de-list securities if a company fails to comply with the Exchange’s requirements related to continuing listing obligations and disclosure policy or is unable or unwilling to do so for any reason.
Rule 13(4)(e) also allows for similar actions when a company fails to meet its obligations as per the Listing Agreement or other agreements with the Exchange, or violates the Exchange’s Rules.
As a result of these violations, the GSE will suspend Aluworks’ listing status beginning Monday, October 2, 2023.
Comments