EIC has announced that with regards to the reorganization process, it has applied to the High Court and obtained the High Court’s order confirming the reorganization of the Company by the proposed scheme of arrangement. This was in accordance with the prescribed procedure under the Companies Code, Act 1963 (Act 179) for effecting court supervised schemes of arrangement. The High Court granted its order on September 27, 2010. A copy of the order will be filled with the Companies Registry for registrations and publication in the Gazette
The general investing public will be further up-dated when other regulatory approvals are concluded. A revised time table would be made available shortly.
Issued in Accra, this 1st
day of October, 2010