CalBank announces discontinuation of legal action against bank’s GH¢600m Rights Issue

Carl Asem

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CalBank Plc has announced to its shareholders that the legal action challenging the bank’s GH¢600 million Rights Issue has been discontinued.

This is coming after a minority shareholder placed an injunction on the bank’s capital raising.

According to the bank, it has received approval from the Securities and Exchange Commission to proceed with the allotment of shares and the remaining activities of the Rights Issue.

In a statement to shareholders and the investing public, it said the credit offer of shares to successful applicants on the Central Securities Depository (CSD) will take place between June 28 – July 5, 2024.

The bank furthered that additional listing of offer shares for trading on the GSE will take place on July 8, 2024.

Also, the deadline for refunds to unsuccessful applicants for the bank’s rights issue will also be done on July 8, 2024.

The bank concluded, saying, “We appreciate the continued support of all our shareholders and regulators”.

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