The Registrar General of Ghana, Mrs Jemima Mamaa Oware, who is the official liquidator in the matter involving the fifty-three (53) Fund Management Companies (FMCs) who were affected by the closure of the investment houses due to several breaches in the running of those entities, has issued a notice to all investors of the fifty-three companies of an impending virtual meetings to discuss Government’s bailout plans for them.

According to her, the bail out plan is only for creditors of these companies who qualify as investors and are under the control of the Securities and Exachnage Commission (SEC).

This was contained in a notice released today by Mrs Jemima Mamaa Oware.

“Take notice and notice is hereby given that all the investors of the underlisted Companies are being invited to a virtual investor meeting on the scheduled dates and time for each of the meetings, commencing on the 15th day of September, 2020 for an update on a Government of Ghana Bailout Plan for creditors who qualify as investors of the AMCs and are under the regulatory remit of the SEC,”  the statement read.

Giving further details, the Official Liquidator explained that the notices of the scheduled meeting will be given to individual creditors through texts.

Below are the underlisted Names of Companies and their respective date and time for the meeting.

DAY 1: Date : 15th September, 2020 : Time: 9:00 – 12pm

INTERMARKET ASSET MANAGEMENT LIMITED (FORMERLY CDH
ASSET MANAGEMENT LIMITED)

FROMFROM CAPITAL LIMITED

NESST CAPITAL LIMITED

MAK ASSETS MANAGEMENT LIMITED

MEC-ELLIS INVESTMENTS (GHANA) LIMITED

ALPHA CAP SECURITIES LIMITED

MAN CAPITAL LIMITED

SIRIUS CAPITAL LIMITED

KAMAAG KAPITAL LIMITED (FORMERLY LIFELINE ASSET
MANAGEMENT LIMITED)

TIKOWRIE CAPITAL LIMITED

DAY 2: Date: 16th September, 2020 : Time: 9:00 – 12pm

BROOKS ASSET MANAGEMENT LIMITED

ALL-TIME CAPITAL LIMITED

MUTUAL INTEGRITY LIMITED

WESTON CAPITAL LIMITED

STANDARD SECURITIES LIMITED

GALAXY CAPITAL LIMITED

NORDEA CAPITAL LIMITED

NICKEL KEYNESBURY LIMITED

AXE CAPITAL ADVISORS LIMITED (FORMERLY UNITED CAPITAL
ADVISORS LIMITED)

SUPREME TRUST CAPITAL LIMITED

Background

The Securities and Exchange Commission (SEC), acting in accordance with Section 122 (2) (b) of the Securities Industry Act 2016, (Act 929) (SIA) revoked the licenses of 53 Asset Management Companies (AMCs).

Pursuant to applications by the Registrar of Companies, the High Court, Commercial Division presided over by Her Ladyship Justice A. Mensah Homiah (JA) ordered the official winding up of the underlisted Companies.

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