Financial market operators given extension to submit their reports
Adnan Adams Mohammed
Issuers of securities to the public and market operators
have been directed to submit their audited annual financial statements to the
Commission, not later than three months after the close of their financial year
in accordance with Regulations 54 and 33 of L.I. 1728.
Collective Investment Schemes have also been given four
months maximum to submit their audited annual financial statements to the
Commission and circulate their annual Investor’s Report to their
shareholders/unit holders after the close of the financial year in accordance
with Regulation 50 (2) of L.I.1695.
The Securities and Exchange Commission has informed Issuers
and Market Operators of an extension of its deadline for the submission of
audited annual financial statements against the background of the disruption
created by the outbreak of the Coronavirus (COVID-19) pandemic.
“Issuers and Market Operators who would not be able to meet
the deadline for submission of their audited annual financial statements to the
Commission and circulation of same to investors may apply to the Commission for
extension of time before the expiry of the submission deadline” SEC noted in a
statement.
Similarly, the Ghana Stock Exchange has approved requests
for the extension of its deadline for the submission of audited financial
statements for the year ended December 31, 2019, made by six listed companies.
The six listed companies include: Enterprise Group Limited,
which sought for an extension to April 30, 2020; Intravenous Infusions Limited
to April 14, 2020; and Fan Milk Limited to April 30, 2020. The others are Total
Petroleum Ghana Limited which also requested for an extension to April 30,
2020; Aluworks Limited to August 31, 2020; and GOIL Company Limited to April
30, 2020.
This was contained in notice issued to the general investing
public by the Exchange Monday, March 30, 2020.
The GSE has assured all investors that it will remain fully
operational on digital platforms, considering all directives that have recently
been issued by the government.
“The Ghana Stock Exchange wishes to inform the general
investing public that its offices will be physically closed during the period
of the restriction on movement. However, trading on the market will continue
uninterrupted.
“This is because the Exchange operates its market on an
Automated Trading System (ATS) which brokers trade on via the internet and a
Wide Area Network (WAN),” it explained.
The Exchange also has a Disaster Recovery Site (DRS) which
allows seamless business continuity if the need arises. Consequently, investors
will be able to have their orders executed by their brokers who are Licensed
Dealing Members (LDMs).
0 comments: