GSE still operational, but trading moves online

…grants extensions to listed equities in submission of financial statements

The Ghana Stock Exchange (GSE) has said trading in equities and debts is continuing but not in its offices or the trading floor but moved online due to the growing Coronavirus (COVID-19) pandemic.

In a release to assure the markets, the GSE, noted that despite the directive from the government and the Securities and Exchange Commission (SEC) to all Capital Market Operators and Investors, 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). The exchange also has a Disaster Recovery Site (DRS) which allows seamless business continuity when the need arises.

Consequently, investors will be able to have their orders executed by their brokers via the Licensed Dealing Members (LDMs). The GSE is reiterating and assuring all investors that it will be fully operational considering all directives that has currently been issued by the Government,” it said.

With the movement of its trading online, the GSE has therefore closed its physical offices during the period of the restriction on movement. “The staff of the exchange will also be working from home to ensure that all activities of the exchange fall in line as expected.

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The exchange continues to closely monitor the national situation of this pandemic and will respond accordingly. We encourage the general public to adhere to the guidelines on precautionary measures provided by the Ghana Health Service,” the statement added.

Extensions to listed equities in submission of financial statements

In letters signed by Ekow Afedzie, the Managing Director of the exchange, in response to request from listed equities, some of these equities have been granted permission to publish their financial statements late as a result of Coronavirus (COVID-19) impact on their business operations.

Total Petroleum Ghana has been granted a one-month extension for the submission of its audited financial statements for the year ending 2019 and Intravenous Infusions Limited has also been granted until April 14 to submit its financial statement by the exchange.

Financial conglomerate, Enterprise Group, has also been granted a 21-day extension of the deadline for submitting its audited financial statements for 2019 year-end and manufacturer, Fanmilk has also been granted a month’s extension for the submission of its statement.

Aluminium maker, Aluworks has been granted the longest extension of five months till August, 31 to submit its financial statement with GOIL’s extended for a month till April 30.

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