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Shareholders approve UT Bank Ghana rights issue, private placement

UT Bank GhanaLtd. shareholders approved a capital increase of 200 million Ghanaian cedithrough a renounceable rights issue and private placement.

Shareholders approved increasing the number of ordinaryshares with no par value to 5 billion. If shareholders do not take up theirrights in the rights issue, shares will be allotted to other investors througha private placement.

The bank said the capital increase aims to bring the lenderin line with applicable regulatory requirements and improve liquidity.

As of May 6, US$1 wasequivalent to 3.80 Ghanaian cedi.