MTN Ghana gets approval from regulators to buy back shares

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Scancom PLC (MTN Ghana) has received approval from the Regulator, Securities and Exchange Commission (SEC) to buy back over 1 million shares of applicants who failed to provide sufficient personal information to complete their Know Your Customer (KYC) requirements under the Company’s Initial Public Offer.

It will be recalled that shareholders of MTN Ghana at an Extraordinary General Meeting (EGM) held on Thursday, December 3, 2020, gave the company the approval to buy back shares of applicants with incomplete personal information at the IPO price of GHS 0.75.

This means that all such applicants will receive a refund of their initial purchasing money and dividends accrued since the IPO.

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.

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 23 February 2021.

Affected Shareholders who need additional information may contact www.mtnghanashares.com or IC Securities at clientservice@icsecurities.com or 0302252621/3.

About MTN Ghana
MTN Ghana is the market leader in the increasingly competitive mobile telecommunications industry in Ghana, offering subscribers a range of exciting options under Pay Monthly and Pay As You Go Services and Mobile Financial Services. The company has committed itself to delivering reliable and innovative services that provide value for subscribers in Ghana’s telecommunications market. Since its entry into Ghana in 2006, MTN has continuously invested in expanding and modernizing its network in order to offer superior services to a broad expanse of the nation.

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