MTN Ghana Directors Acquire 6.1m Shares at GHS 10.98m

Scancom PLC (MTN Ghana) has announced that several non-executive directors of the company have acquired ordinary shares as part of efforts to increase Ghanaian shareholding in the telecom giant.

Effective August 16, 2024, Investcom Consortium Holdings SA, the majority shareholder, made the shares available for purchase following an independent due diligence process.

The shares were offered at an execution price of GHS 1.77 per share to both directors and independent third parties.

MTN Ghana confirmed that the transactions were conducted in compliance with relevant laws, including the Companies Act, 2019 (Act 992), the Securities Industry Act, 2019 (Act 929), and the Securities and Exchange Commission’s Corporate Governance Code, 2020.

Additionally, the transactions adhered to MTN Ghana’s Insider Trading Policy and the rules of the Ghana Stock Exchange (GSE).

The company emphasized that the shares were acquired under the same terms as those offered to other independent third parties, ensuring fairness and transparency.

MTN Ghana reaffirmed its commitment to enhancing local participation in the company, with these transactions representing a key step in aligning the company’s growth with broader local investment.

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