PR. 077/2011 TBL, THE GAMBIA-APPOINTMENT OF A DIRECTOR
TBL has announced that following the resignation of Mr. Edward Graham from the Board of Directors of the company on December 31, 2010, Mr. Tumbul Danso has been proposed for the appointment as his replacement.
Mr. Danso joined the Trust Bank Board in December 2005, a position he held until September 2009 when he left the services of Social Security and Housing Finance Corporate (SSHFC), majority shareholders in Trust Bank. In January 2011, he was re-appointed as the Managing Director of SSHFC and consequently was nominated back on the TBL Board.
He graduated with a Bsc in Architecture from the Kwame Nkrumah University of Science and Technology, Kumasi. He also has a Post Graduate Diploma from the Institute of Housing Studies Rotterdam and Certificate in Building Materials Development and Human Settlement from Bandung, Indonesia.
He is a member of the Royal Institute of British Architects.
Issued at Accra, this 28th
day of March, 2011
PR. 078/2011 CFAO-RESULTS OF SHARE PURCHASES BY CFAO (FRANCE) S.A
Merban Stockbrokers Limited, the manager’s of the CFAO de-listing has released the results of the cash offer.
In line with the GSE de-listing rules, the company made an exit arrangement to purchase all outstanding shares from minority shareholders who wished to sell their shares at a price of GH¢0.04 per share.
The key timelines for the transaction were:
Commencement of the Purchases - January 24, 2011
Closure of the Purchases - March 18, 2011
RESULTS OF THE PURCHASES
At the end of the purchases, 12,172,849 ordinary shares valued at GHS 486,913.96 were purchased from 412 shareholders. CFAO France S.A. the majority shareholder therefore now holds 227,504,944 ordinary shares in CFAO Ghana Ltd. This represents 94.11% of the issued shares of CFAO.
Payments have been made to all CFAO shareholders who sold their shares in accordance with their preferred mode of settlement. The purchaser, CFAO S.A. France’s GSE Securities Depository account has also been credited with purchases from shareholders with dematerialized shares whereas the Registrar for CFAO Ghana shares has issued an instrument to cover purchases from certificated shareholders.
DE-LISTING OF CFAO FROM THE GHANA STOCK EXCHANGE
The Ghana Stock Exchange (GSE) has agreed that CFAO Ghana will be delisted as from 1st April 2011.
CFAO France S.A. will, until further notice, continue to purchase CFAO Ghana shares over-the-counter through Merban Stockbrokers Limited.
Issued in Accra, this 28th
day of March, 2011