CFAO commences purchase of shares from shareholders

Posted by on January 24, 2011 at 2:39 pm in Business, Stock Market

Automobile dealer CFAO will today begin purchasing shares from its shareholders following moves to formally delist from the Ghana Stock Exchange.

The firm, acting through its brokers Merban, is offering 4 pesewas for every share held, one pesewa more than the current market price of 3 pesewas.

The firm has set March 21 as the formal date to move from the market.

The move to delist follows a vote by shareholders in 2009 by a special resolution to take the company off the exchange as part of a global plan by CFAO to get out of all stock exchanges in Africa.

Joy News/Ghana

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