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Jump to full article: BusinessDAY (ng), 2007-03-05
Author: Godwin NNANNA, Accra
Intro: In a climax to the closure of BAT Ghana, the global tobacco group, British American Tobacco (BAT) Investment B.V has paid Ghanaian shareholders of the company the sum $15-million (N1.9-billion).
The pay-off, which started on February 6 and ended, saw BAT Investment paying for 30,652,820 ordinary shares priced at 4,266 cedis (about N70) per share.
A letter HSBC London, bankers for BAT Investment, had written to the Ghana Stock Exchange and the Securities and Exchange Commission in December 2006 informed the regulatory agencies of its client's decision to pay off the Ghanaian shareholders as a result of closing down its Ghanaian production outfit.
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