MTN Ghana’s non-executive directors acquired 6.1 million shares worth GH₵ 10.98 million, boosting local ownership and adhering to regulatory and governance standards.
Scancom PLC, operator of MTN Ghana, has announced the acquisition of 6.1 million ordinary shares by several non-executive directors.
This strategic move is part of the company’s broader initiative to bolster Ghanaian ownership within the telecom sector.
The shares, valued at GH₵ 10.98 million, were made available by the majority shareholder, Investcom Consortium Holdings SA, following an independent due diligence process. Offered at a price of GH₵ 1.77 per share, the transactions also included independent third-party investors, ensuring inclusivity.
MTN Ghana stressed that these acquisitions adhered strictly to applicable regulatory frameworks, including the Companies Act, 2019 (Act 992), the Securities Industry Act, 2019 (Act 929), and the Securities and Exchange Commission’s (SEC) Corporate Governance Code, 2020.
The transactions also aligned with the company’s Insider Trading Policy and the Ghana Stock Exchange (GSE) rules.
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The company emphasized its commitment to fairness and transparency, noting that all participants acquired shares on equal terms. This initiative, it was noted, reflects its dedication to aligning its growth with increased local investment and participation.
