Jul 2013 Financial News

Republic Bank Limited - Ghana Securities and Exchange Commission Waiver

Jul 01, 2013

Further to its acquisition of 32.02 % of the shareholding of HFC Bank Ghana Limited, and its application to the Securities and Exchange Commission in Ghana for a waiver of the Code on Take Overs and Mergers, Republic Bank Limited was informed by letter dated 24th June, 2013, that the Commission has denied its application for a waiver. Republic Bank has been advised to comply with the mandatory takeover requirements and make an offer for 42.98% of the shareholding in HFC Bank Ghana Limited.

Republic Bank is currently engaged in discussions with the Securities and Exchange Commission in Ghana and the Bank of Ghana regarding the next steps.

Republic Bank looks forward to deepening its relationship with HFC Bank Ghana Limited and is committed to working with its management and staff to add value to its operations.

Jacqueline Quamina
Corporate Secretary/General Counsel
June 28, 2013


Source:
The Trinidad and Tobago Stock Exchange Limited
Monday July 1, 2013