Scancom PLC (MTN Ghana) has announced the acquisition of GH₵10.9 million ($748,177) worth of ordinary shares by some of its non-executive directors, a move aimed at enhancing Ghanaian participation in the company’s ownership.
The shares, totaling 6,197,117, were acquired on August 16, 2024, at GH₵1.77 per share. Investcom Consortium Holdings SA, the majority shareholder, facilitated this transaction, following an independent due diligence process.
MTN Ghana confirmed the acquisitions complied with Ghana’s Companies Act, 2019 (Act 992), the Securities Industry Act, 2019 (Act 929), and the Ghana Stock Exchange (GSE) regulations.
The directors involved in the purchase are:
-Felix Addo, who acquired 5,568,144 shares, increased his ownership to 0.0421%. -Rosemond Bene Ebe-Arthur, with 278,407 shares, now holds 0.0021%. Dr. Ishmael Yamson, Chairman of the Board, added 167,044 shares, bringing his total stake to 0.0013%.
-Kofi Nkisah Dadzie, purchased 100,000 shares, raising his holding to 0.0008%.
-NanaAma Boama Botchway, who acquired 83,522 shares, now holds 0.0006%.
In a statement, MTN Ghana emphasized that the acquisitions align with its ongoing commitment to fostering greater local investment.
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“These transactions do not contravene the Companies Act, 2019 (Act 992), the Securities Industry Act, 2019 (Act 929), the Securities and Exchange Commission’s Corporate Governance Code, 2020, or MTN Ghana’s Insider Trading Policy,” the company stated.
It added that the shares were purchased under conditions consistent with those extended to other independent third parties in compliance with the GSE’s rules and regulations.
MTN Ghana reiterated its dedication to ensuring local participation in the company’s growth. The company’s stock closed trading yesterday at GH₵2.45 per share, reflecting notable value appreciation since the transactions.
