The board of PZ Cussons Ghana Limited has made known its intention to stop trading its shares on the floor of the Ghana Stock Exchange (GSE).
However, this action is subject to the approvals of GSE, the Securities and Exchange Commission (SEC) in Ghana and the company’s shareholders.
In a disclosure last month, the PZ Cussons explained that the decision to delist from the stock exchange was buoyed by its plans to achieve operational efficiency, by providing management of the company more time and resources to focus on running and expanding the business, its distribution network and reach, thereby ensuring consumer satisfaction.
“PZ Cussons remains driven by our commitment to continue expanding our business through providing consumers with goods of the highest quality standards at affordable prices, while making reasonable profit and maintaining our strong family values and respect for the environment in which we operate,” the statement obtainedsaid.
However, the company emphasised that, “The proposed de-listing is not expected to impact job security, day-to-day operations and relationships with stakeholders.”
‘PZ Cussons will provide shareholders and the general public with further information on the delisting if the resolution to de-list is passed by PZ Cussons’ shareholders,” it assured.
PZ Cussons is a subsidiary of PZ Cussons (Holdings) Limited, a multinational consumer goods business which manufactures and distributes some of the most familiar household brands in the world, from Imperial Leather to Cussons Baby and Morning Fresh.
PZ Cussons has a strong product portfolio that includes well established brands such as Camel, Cussons Baby, Imperial Leather, Nunu Milk, Carex, Drastin, Premier and Robb.
The firm has operations in Nigeria and other countries in Africa. The Nigerian arm of the parent company is listed on the Nigerian Stock Exchange (NSE) and as at the close of business yesterday, shares of PZ Cussons Nigeria were traded at N5.25 per unit, 5 kobo higher than N5.20 they were transacted the previous day.
It is however not certain if the Nigerian arm of PZ Cussons is considering this option of the Ghana arm of PZ Cussons.
