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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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SEC dismisses “Concert Party “trading against Republic Bank

bycitibusinessnews
January 12, 2015
in Banking And Finance, Business, News
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The Securities and Exchange Commission (SEC) has dismissed allegations of concert party trading against Republic Bank Limited and Yellow Tide trading.

A statement signed by the Director-General of SEC Adu Anane Antwi said, “after carefully considering all the information gathered from the investigation , the commission did not find a “concert party” relationship between Yellow Tide and Republic Bank with the intent of co-operating to consolidate control of HFC Bank”.

The investigation follows a complaint from a shareholder of HFC Bank Mrs. Eudora Hilda Koranteng, requesting SEC to investigate the matter.

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Acting in Concert is a term used when parties undertake identical investment actions to achieve the same goal.

The complaint requested the Commission to investigate whether the purchase by Yellow Tide Limited of 3,360,557 shares of HFC Bank , representing 1.13% of the Bank’s issued shares, was in concert with Republic Bank Limited and consequently in furtherance of the proposed mandatory takeover of HFC Bank by Republic Bank.

[contextly_sidebar id=”YimVqnFbnx26sQsor691ZLMnMFVQqbXp”]The statement further stated that the purchase of 3,360,557 shares of HFC Bank, representing 1.13% of the Bank’s issued shares by Yellow Tide was not in furtherance of the proposed mandatory takeover of HFC Bank by Republic Bank.

The decision of the commission has been communicated to the complainant and other parties to whom the complainant’s letter was copied.

The Commission also assured all investors and the general public that it was committed to ensuring rigorous enforcement of all the rules for players in the capital market, in order to ensure fair and equitable dealings in security.

 

By: Rabiu Alhassan/citifmonline.com/Ghana

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