The Securities and Exchange Commission (SEC) has approved MTN Ghana’s request to buy back 1 million of its floated shares.
According to the telecom giant, the 1 million floated shares will be bought back from applicants who failed to provide sufficient personal information in completing their Know Your Customer (KYC) requirements under the Company’s Initial Public Offer (IPO) in May 2018.
SEC’s approval follows shareholders’ permission for shares repurchase by the company at an Extraordinary General Meeting (EGM) on December 3, last year.
Affected applicants will receive a refund of their initial purchasing monies as well as dividends accrued since the IPO in May 2018.
“Applicants who did not provide sufficient KYC information can check the status of their account by visiting www.mtnghanashares.com to update their records and upload a copy of their valid ID card,” said MTN Ghana in a statement announcing the shares repurchase approval by SEC.
“Before the buyback commences, MTN Ghana is making a final appeal to shareholders to take advantage of the notice period to complete all outstanding account information. The notice period ends on February 23, 2021,” MTN Ghana added.
Affected shareholders who need additional information have been directed to contact www.mtnghanashares.com or IC Securities at clientservice@icsecurities.com or call 0302252621/3 for assistance.
