In a recent press release, CalBank has announced the Ghana Cocoa Board’s (COCOBOD) extension of the offer period for its debt securities exchange programme, initially launched on July 14, 2023. The extension, approved by the Securities and Exchange Commission, now pushes the deadline for applications to 4:00 p.m. on August 18, 2023.
According to the exchange memorandum issued by CalBank on behalf of COCOBOD, the extension aims to provide potential participants with additional time to consider and submit their applications for the Exchange Programme. This move comes after careful consideration of various factors affecting the market and investor response.
Key dates in the revised timetable for the exchange invitation are as follows:
- Extension Expiration Date: Applications will be accepted until 4:00 p.m. on Friday, August 18, 2023.
- Announcement Date: The announcement of the results of the exchange is expected around Monday, August 21, 2023.
- Settlement Date: Successful exchange participants can expect settlement on Friday, August 25, 2023, or as soon as practically feasible thereafter.
COCOBOD through CalBank emphasises that participants who wish to take part in the Exchange Programme should submit their applications by the extended deadline. The organisation reserves the right to extend the deadline further, subject to its discretion and approval from the Securities and Exchange Commission. It’s essential to note that once an offer is made, it cannot be revoked or withdrawn except under specific circumstances outlined in the Exchange Memorandum.
COCOBOD advises all prospective participants to review the Programme Documents carefully and seek advice from qualified professionals, such as dealers or investment advisers, before making investment decisions. The Programme Documents, which contain detailed information about the Exchange Programme, can be accessed on the following websites:https://projects.morrowsodali.com/CocobodDDE, https://calbank.net/CocobodDDE, and the COCOBOD website https://cocobod.gh/CocobodDDE.
Source: A1radioonline.com|101.1MHz|Mark Kwasi Ahumah Smith|Ghana
