The Board Chairman of MTN Ghana, Ishmael Yamson, has assured shareholders of the corporate that they won’t lose any worth or earnings after a deliberate restructuring of its cellular cash enterprise, MobileMoney Restricted.
Mr. Yamson defined that the corporate needed to make the transfer in compliance with Ghana’s Cost Programs and Companies Act of 2019.
“You’ll nonetheless personal your Scancom PLC shares. You additionally now have a sound curiosity within the New FinCo via the belief. You’ll obtain dividends and voting rights via the belief while you purchase our shares, Scancom PLC shares… You’ll not lose any worth,” Mr. Yamson assured at an Extraordinary Common Assembly in Accra on Wednesday on Might 21, 2025.
He identified that the method is designed to guard shareholder pursuits and meet regulatory calls for via transferring the Cell Cash Restricted into a brand new Ghanaian firm at present known as New FinCo.
He acknowledged that the method entails the Ghana Inventory Alternate, therefore the legislation will defend the shareholders’ funding.
“This course of is designed to guard shareholder worth and provides the enterprise time to mature earlier than it’s listed,” he added, noting that the restructuring shall be tax-neutral, with prices shared amongst MTN Group, Scancom PLC, and the Momo enterprise.
Mr. Yamson stated the brand new association will see the creation of a belief to carry shares in New FinCo on behalf of minority shareholders,
That is anticipated to align with the present possession construction of Scancom PLC, he stated including that when accomplished, MobileMoney Restricted will stop to exist as an entity, with all its operations and property rolled into the brand new firm.
“This alteration is nice for the way forward for our enterprise and your funding,” Mr Yamson instructed shareholders. “It would liberate MML to develop quicker, compete higher, and appeal to the correct abilities to thrive in a digital future,” he stated.
No decision was handed on the assembly.
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DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
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